Procore Technologies, Inc. (NYSE:PCOR) Stock Holdings Lifted by Janus Henderson Group PLC

Janus Henderson Group PLC raised its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,627,408 shares of the company's stock after buying an additional 322,367 shares during the quarter. Janus Henderson Group PLC owned approximately 1.77% of Procore Technologies worth $196,873,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new position in shares of Procore Technologies during the 4th quarter worth $11,268,000. Gotham Asset Management LLC boosted its holdings in Procore Technologies by 52.9% in the fourth quarter. Gotham Asset Management LLC now owns 99,066 shares of the company's stock valued at $7,423,000 after purchasing an additional 34,260 shares in the last quarter. Greycroft LP increased its position in shares of Procore Technologies by 116.7% during the fourth quarter. Greycroft LP now owns 6,500 shares of the company's stock worth $487,000 after purchasing an additional 3,500 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Procore Technologies during the fourth quarter worth approximately $202,000. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of Procore Technologies during the fourth quarter worth approximately $20,370,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Price Performance

Shares of PCOR traded down $0.18 during trading hours on Friday, reaching $71.25. 413,710 shares of the company traded hands, compared to its average volume of 1,426,836. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $10.63 billion, a PE ratio of -98.95 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The stock has a fifty day simple moving average of $64.77 and a 200 day simple moving average of $72.56.

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

Insider Activity at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now directly owns 200 shares in the company, valued at $17,480. The trade was a 84.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Fu sold 8,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the sale, the chief financial officer now owns 156,188 shares in the company, valued at $13,588,356. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,142 shares of company stock worth $4,626,417. 29.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PCOR has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. JMP Securities upped their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a report on Tuesday, February 18th. Canaccord Genuity Group upped their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Jefferies Financial Group lowered their target price on Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Barclays upped their target price on Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock 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.