MML Investors Services LLC Purchases 12,048 Shares of Procore Technologies, Inc. (NYSE:PCOR)

MML Investors Services LLC grew its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 187.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,488 shares of the company's stock after buying an additional 12,048 shares during the quarter. MML Investors Services LLC's holdings in Procore Technologies were worth $1,385,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCOR. Diversified Trust Co boosted its stake in Procore Technologies by 157.1% in the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company's stock valued at $3,795,000 after buying an additional 30,948 shares in the last quarter. US Bancorp DE boosted its stake in shares of Procore Technologies by 18.8% in the 4th quarter. US Bancorp DE now owns 21,416 shares of the company's stock valued at $1,605,000 after purchasing an additional 3,390 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Procore Technologies in the 4th quarter worth about $20,729,000. Barclays PLC increased its position in shares of Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after purchasing an additional 22,734 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Procore Technologies in the fourth quarter valued at about $56,000. 81.10% of the stock is owned by institutional investors.

Insider Transactions at Procore Technologies

In other news, insider Benjamin C. Singer sold 6,937 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $83.60, for a total value of $579,933.20. Following the sale, the insider now directly owns 72,110 shares of the company's stock, valued at $6,028,396. This represents a 8.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Connor Kevin J. O sold 7,700 shares of the company's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total transaction of $436,359.00. Following the completion of the sale, the director now owns 1,208,284 shares in the company, valued at approximately $68,473,454.28. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,962 shares of company stock worth $5,041,588. Insiders own 29.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on PCOR shares. Mizuho decreased their target price on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. KeyCorp reduced their target price on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. UBS Group lowered their price target on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Macquarie decreased their price objective on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Four investment 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. According to MarketBeat, Procore Technologies has a consensus rating of "Moderate Buy" and an average price target of $80.24.

Procore Technologies Stock Performance

NYSE PCOR traded up $1.74 during trading on Friday, hitting $64.95. 1,948,555 shares of the company's stock traded hands, compared to its average volume of 1,717,698. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of -90.21 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The business has a 50 day moving average of $65.91 and a 200-day moving average of $72.29. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (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 business had revenue of $310.63 million for the quarter, compared to analysts' expectations of $302.66 million. During the same period in the prior year, the company posted $0.30 EPS. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.