Long Walk Management LP Trims Stake in Procore Technologies, Inc. (NYSE:PCOR)

Long Walk Management LP decreased its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 52.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 127,500 shares of the company's stock after selling 141,500 shares during the quarter. Procore Technologies makes up 5.7% of Long Walk Management LP's portfolio, making the stock its 9th biggest position. Long Walk Management LP owned 0.09% of Procore Technologies worth $8,826,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. 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 valued at $408,000 after purchasing an additional 170 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Procore Technologies by 0.8% during 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 grew its holdings in shares of Procore Technologies by 4.5% during 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. Portside Wealth Group LLC grew 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 purchasing an additional 231 shares during the last quarter. Finally, Caprock Group LLC grew its holdings in shares of Procore Technologies by 4.4% during the third quarter. Caprock Group LLC now owns 6,430 shares of the company's stock valued at $420,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the business's stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $69.77, for a total transaction of $357,780.56. Following the sale, the director now directly owns 1,558,421 shares of the company's stock, valued at approximately $108,731,033.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Howard Fu sold 1,142 shares of the company's stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $69.67, for a total value of $79,563.14. Following the transaction, the chief financial officer now directly owns 144,608 shares of the company's stock, valued at $10,074,839.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the company's stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $69.77, for a total transaction of $357,780.56. Following the completion of the transaction, the director now directly owns 1,558,421 shares in the company, valued at $108,731,033.17. The disclosure for this sale can be found here. Insiders have sold a total of 477,629 shares of company stock valued at $37,302,777 in the last three months. 39.20% of the stock is currently owned by company insiders.

Procore Technologies Price Performance

Shares of NYSE:PCOR traded up $2.58 on Tuesday, reaching $79.23. 1,554,330 shares of the company traded hands, compared to its average volume of 1,215,307. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The company's 50 day moving average is $76.96 and its 200-day moving average is $68.25. The stock has a market capitalization of $11.48 billion, a PE ratio of -58.19 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.

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

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of recent analyst reports. JMP Securities increased their price objective on Procore Technologies from $81.00 to $93.00 and gave the stock a "market outperform" rating in a report on Friday, February 16th. DA Davidson reissued a "buy" rating and issued a $95.00 price objective on shares of Procore Technologies in a report on Thursday, March 14th. KeyCorp increased their price objective on Procore Technologies from $85.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, February 16th. BMO Capital Markets increased their price objective on Procore Technologies from $76.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, February 16th. Finally, Stifel Nicolaus increased their price objective on Procore Technologies from $64.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.86.

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.