198,257 Shares in Procore Technologies, Inc. (NYSE:PCOR) Bought by Voloridge Investment Management LLC

Voloridge Investment Management LLC purchased a new position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F 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 approximately 0.13% of Procore Technologies at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its position in Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after purchasing an additional 162 shares during the period. Huntington National Bank raised its position in shares of Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after purchasing an additional 404 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock worth $54,000 after purchasing an additional 674 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Procore Technologies during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Trading Down 0.0%

Shares of Procore Technologies stock traded down $0.03 on Thursday, reaching $67.26. 113,964 shares of the company's stock were exchanged, compared to its average volume of 1,707,712. The company has a market capitalization of $10.03 billion, a P/E ratio of -93.20 and a beta of 0.90. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The firm's 50-day moving average is $64.77 and its two-hundred day moving average is $72.63. 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 issued its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The company had revenue of $310.63 million for the quarter, compared to analysts' expectations of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Procore Technologies's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. Sell-side analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Howard Fu sold 1,480 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $60.02, for a total value of $88,829.60. Following the completion of the sale, the chief financial officer now owns 206,704 shares of the company's stock, valued at $12,406,374.08. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Connor Kevin J. O sold 7,700 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total value of $436,359.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 46,623 shares of company stock worth $3,144,659 in the last quarter. 29.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PCOR. Jefferies Financial Group dropped their target price on Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. DA Davidson upgraded Procore Technologies to a "hold" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. reduced their target price on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Scotiabank reduced their target price on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Finally, Canaccord Genuity Group boosted their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $80.24.

Procore Technologies Profile

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.