Raymond James & Associates Acquires 42,154 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Raymond James & Associates boosted its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 1,055.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,148 shares of the company's stock after buying an additional 42,154 shares during the period. Raymond James & Associates' holdings in Procore Technologies were worth $3,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Richelieu Gestion SA bought a new stake in Procore Technologies in the fourth quarter valued at $1,772,000. First Bank & Trust grew its position in Procore Technologies by 23.8% in the 4th quarter. First Bank & Trust now owns 5,723 shares of the company's stock worth $396,000 after purchasing an additional 1,099 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in Procore Technologies in the 4th quarter worth about $403,000. Northside Capital Management LLC grew its position in Procore Technologies by 13.6% in the 4th quarter. Northside Capital Management LLC now owns 25,178 shares of the company's stock worth $1,743,000 after purchasing an additional 3,012 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Procore Technologies by 29.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 15,808 shares of the company's stock worth $1,094,000 after purchasing an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $79.20, for a total value of $507,672.00. Following the transaction, the director now owns 1,494,311 shares of the company's stock, valued at $118,349,431.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $79.20, for a total value of $507,672.00. Following the transaction, the director now owns 1,494,311 shares of the company's stock, valued at $118,349,431.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Fu sold 1,142 shares of the 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 completion of the transaction, the chief financial officer now directly owns 144,608 shares in the company, valued at approximately $10,074,839.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 467,373 shares of company stock valued at $36,589,678. 39.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BMO Capital Markets upped their price objective on shares of Procore Technologies from $76.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, February 16th. The Goldman Sachs Group boosted their target price on shares of Procore Technologies from $74.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, February 16th. KeyCorp boosted their target price on shares of Procore Technologies from $85.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, February 16th. JMP Securities boosted their target price on shares of Procore Technologies from $81.00 to $93.00 and gave the company a "market outperform" rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Procore Technologies from $76.00 to $81.00 and gave the company an "overweight" rating in a research note on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.86.

Procore Technologies Price Performance

Shares of Procore Technologies stock traded down $1.53 during trading on Friday, hitting $73.44. The stock had a trading volume of 837,959 shares, compared to its average volume of 1,145,493. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of -55.22 and a beta of 0.71. Procore Technologies, Inc. has a 12 month low of $48.11 and a 12 month high of $83.35. The business's 50-day moving average is $77.23 and its 200 day moving average is $68.59. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04.

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