Voloridge Investment Management LLC Takes $14.86 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Voloridge Investment Management LLC purchased a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 198,257 shares of the company's stock, valued at approximately $14,855,000. Voloridge Investment Management LLC owned about 0.13% of Procore Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PCOR. Barclays PLC increased its position in Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after buying an additional 22,734 shares in the last quarter. SG Americas Securities LLC bought a new position in Procore Technologies in the 4th quarter worth $788,000. Brighton Jones LLC bought a new stake in shares of Procore Technologies during the 4th quarter valued at $511,000. Zweig DiMenna Associates LLC raised its stake in Procore Technologies by 23.5% during the 4th quarter. Zweig DiMenna Associates LLC now owns 120,000 shares of the company's stock valued at $8,992,000 after purchasing an additional 22,800 shares during the period. Finally, KBC Group NV increased its holdings in shares of Procore Technologies by 1,550.7% in the fourth quarter. KBC Group NV now owns 44,933 shares of the company's stock worth $3,367,000 after purchasing an additional 42,211 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Insider Activity at Procore Technologies

In other news, CFO Howard Fu sold 1,190 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.00, for a total transaction of $79,730.00. Following the sale, the chief financial officer now directly owns 146,160 shares in the company, valued at $9,792,720. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 7,700 shares of Procore Technologies stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total transaction of $436,359.00. Following the transaction, the director now directly owns 1,208,284 shares of the company's stock, valued at $68,473,454.28. The trade was a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,623 shares of company stock valued at $3,144,659. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Trading Up 1.2%

Shares of NYSE:PCOR traded up $0.83 during midday trading on Tuesday, hitting $68.11. 879,569 shares of the stock were exchanged, compared to its average volume of 1,715,340. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of -94.59 and a beta of 0.90. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92. The business's 50-day moving average price is $64.86 and its 200 day moving average price is $72.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. Analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on PCOR shares. DA Davidson raised shares of Procore Technologies to a "hold" rating in a research report on Tuesday, May 13th. Jefferies Financial Group decreased their target price on Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a report on Monday, March 31st. JPMorgan Chase & Co. cut their price objective on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Piper Sandler lowered their price target on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets reduced their price target on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Procore Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.24.

About Procore Technologies

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.