Woodline Partners LP Purchases 217,351 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Woodline Partners LP boosted its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 45.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 691,980 shares of the company's stock after purchasing an additional 217,351 shares during the quarter. Woodline Partners LP owned approximately 0.47% of Procore Technologies worth $51,850,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its holdings 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 in the last quarter. V Square Quantitative Management LLC raised its holdings in Procore Technologies by 37.8% in 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 in the last quarter. Huntington National Bank raised its holdings in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after purchasing an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Procore Technologies by 1,434.0% in 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 in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Procore Technologies in the fourth quarter worth about $56,000. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $69.88 on Tuesday. The business's 50 day moving average price is $64.92 and its 200 day moving average price is $72.75. The firm has a market cap of $10.42 billion, a P/E ratio of -97.05 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 company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data 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 return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same quarter in the prior year, the firm posted $0.30 EPS. The business's quarterly revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCOR. Macquarie dropped their price target on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. UBS Group dropped their price target on Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Piper Sandler dropped 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. Mizuho dropped their price target on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, KeyCorp dropped their price target on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.24.

Insiders Place Their Bets

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the transaction, the executive now directly owns 161,368 shares of the company's stock, valued at $13,380,634.56. This represents a 6.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Connor Kevin J. O sold 7,700 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 1,208,284 shares of the company's stock, valued at approximately $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 90 days, insiders have sold 69,834 shares of company stock worth $5,181,472. Corporate insiders own 29.00% of the company's stock.

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.

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