Pinnbrook Capital Management LP Buys Shares of 44,863 Procore Technologies, Inc. (NYSE:PCOR)

Pinnbrook Capital Management LP acquired a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,863 shares of the company's stock, valued at approximately $3,105,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ellsworth Advisors LLC grew its holdings in shares of Procore Technologies by 3.0% during the fourth quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company's stock worth $408,000 after purchasing an additional 170 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Procore Technologies by 2.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 6,715 shares of the company's stock valued at $464,000 after purchasing an additional 173 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Procore Technologies by 0.8% in the third quarter. Handelsbanken Fonder AB now owns 25,900 shares of the company's stock valued at $1,692,000 after purchasing an additional 200 shares during the last quarter. Pathstone Family Office LLC lifted its position in Procore Technologies by 4.5% in the fourth quarter. Pathstone Family Office LLC now owns 4,692 shares of the company's stock valued at $228,000 after purchasing an additional 204 shares during the last quarter. Finally, Portside Wealth Group LLC raised its holdings in shares of Procore Technologies by 7.5% during the third quarter. Portside Wealth Group LLC now owns 3,311 shares of the company's stock valued at $215,000 after acquiring an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KeyCorp upped their target price on Procore Technologies from $85.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, February 16th. JPMorgan Chase & Co. increased their price objective on Procore Technologies from $76.00 to $81.00 and gave the stock an "overweight" rating in a report on Tuesday, January 23rd. BMO Capital Markets increased their target price on Procore Technologies from $76.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, February 16th. DA Davidson reissued a "buy" rating and issued a $95.00 target price on shares of Procore Technologies in a research note on Thursday, March 14th. Finally, Stifel Nicolaus increased their target price on Procore Technologies from $64.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.86.

Procore Technologies Trading Down 1.6 %

Procore Technologies stock traded down $1.22 during trading on Monday, reaching $76.66. 1,223,814 shares of the company were exchanged, compared to its average volume of 1,210,148. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35. The company has a market capitalization of $11.11 billion, a P/E ratio of -57.64 and a beta of 0.71. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The stock's 50 day simple moving average is $76.96 and its two-hundred day simple moving average is $68.25.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.13. The company had revenue of $260.04 million during the quarter, compared to analysts' expectations of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Benjamin C. Singer sold 1,000 shares of Procore Technologies stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the sale, the insider now directly owns 127,318 shares of the company's stock, valued at $8,912,260. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Craig F. Jr. Courtemanche sold 110,000 shares of the business's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $80.00, for a total transaction of $8,800,000.00. Following the completion of the transaction, the chief executive officer now directly owns 532,749 shares of the company's stock, valued at approximately $42,619,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin C. Singer sold 1,000 shares of Procore Technologies stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the insider now directly owns 127,318 shares of the company's stock, valued at $8,912,260. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 478,629 shares of company stock valued at $37,372,777. 39.20% of the stock is currently owned by corporate insiders.

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.

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