Northern Trust Corp Buys 86,192 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Northern Trust Corp lifted its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 594,668 shares of the company's stock after buying an additional 86,192 shares during the period. Northern Trust Corp owned approximately 0.40% of Procore Technologies worth $44,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE boosted its stake in shares of Procore Technologies by 18.8% during the 4th quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after acquiring an additional 3,390 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Procore Technologies during the fourth quarter valued at $20,729,000. Barclays PLC boosted its position in Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after purchasing an additional 22,734 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Procore Technologies in the fourth quarter worth about $56,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Procore Technologies by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock worth $214,377,000 after buying an additional 1,425,967 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at approximately $17,480. This trade represents a 84.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Howard Fu sold 1,480 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now owns 206,704 shares of the company's stock, valued at approximately $12,406,374.08. This represents a 0.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,142 shares of company stock worth $4,053,807. Corporate insiders own 29.00% of the company's stock.

Analysts Set New Price Targets

PCOR has been the subject of a number of analyst reports. UBS Group reduced their price target on Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Macquarie dropped their price objective 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. Barclays lifted their price objective on Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Stifel Nicolaus dropped their price objective on Procore Technologies from $93.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Scotiabank dropped their price objective on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.24.

Procore Technologies Trading Up 10.2%

Shares of PCOR stock traded up $6.70 during trading hours on Monday, reaching $72.33. The company had a trading volume of 2,562,019 shares, compared to its average volume of 1,718,944. The company has a 50 day moving average of $64.84 and a 200 day moving average of $72.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of -100.46 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The company 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. On average, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Procore Technologies Company 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.