Procore Technologies, Inc. (NYSE:PCOR) Holdings Lifted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 650,210 shares of the company's stock after purchasing an additional 63,214 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.45% of Procore Technologies worth $45,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC grew its position in shares of Procore Technologies by 6,823.1% during the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company's stock worth $62,000 after acquiring an additional 887 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Procore Technologies during the 4th quarter worth $62,000. Envestnet Portfolio Solutions Inc. purchased a new position in Procore Technologies during the 4th quarter worth $242,000. Raymond James & Associates purchased a new position in Procore Technologies during the 3rd quarter worth $261,000. Finally, Bullseye Asset Management LLC raised its position in Procore Technologies by 100.4% during the 3rd quarter. Bullseye Asset Management LLC now owns 3,993 shares of the company's stock worth $261,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of analyst reports. JMP Securities upped their price objective on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a "market outperform" rating in a research report on Friday, February 16th. JPMorgan Chase & Co. upped their price objective on shares of Procore Technologies from $83.00 to $86.00 and gave the stock an "overweight" rating in a research report on Thursday, May 2nd. Mizuho cut their price target on shares of Procore Technologies from $80.00 to $75.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus increased their price target on shares of Procore Technologies from $64.00 to $90.00 and gave the company a "buy" rating in a report on Friday, February 16th. Finally, Barclays cut their price target on shares of Procore Technologies from $83.00 to $78.00 and set an "overweight" rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Procore Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $81.79.

Insiders Place Their Bets

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 6,041 shares of Procore Technologies stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total value of $446,429.90. Following the completion of the sale, the senior vice president now directly owns 77,768 shares of the company's stock, valued at approximately $5,747,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 6,041 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $446,429.90. Following the sale, the senior vice president now directly owns 77,768 shares of the company's stock, valued at approximately $5,747,055.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin C. Singer sold 3,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $78.26, for a total transaction of $234,780.00. Following the transaction, the insider now directly owns 101,865 shares of the company's stock, valued at approximately $7,971,954.90. The disclosure for this sale can be found here. Insiders have sold 511,146 shares of company stock valued at $39,475,882 in the last ninety days. Insiders own 39.20% of the company's stock.

Procore Technologies Price Performance

NYSE PCOR traded up $0.23 during trading hours on Friday, reaching $69.46. The company's stock had a trading volume of 772,773 shares, compared to its average volume of 1,263,807. The stock has a market cap of $10.16 billion, a PE ratio of -72.35 and a beta of 0.78. 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 $74.48 and its two-hundred day moving average is $69.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61.

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 (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The company had revenue of $260.04 million for the quarter, compared to analysts' expectations of $248.20 million. Analysts forecast that Procore Technologies, Inc. will post -0.35 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.