Praesidium Investment Management Company LLC Sells 25,526 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Praesidium Investment Management Company LLC trimmed its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,763 shares of the company's stock after selling 25,526 shares during the quarter. Procore Technologies makes up about 4.0% of Praesidium Investment Management Company LLC's portfolio, making the stock its 10th largest holding. Praesidium Investment Management Company LLC owned about 0.22% of Procore Technologies worth $23,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after buying an additional 22,734 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Procore Technologies by 99.4% during the 4th 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 period. Park Avenue Securities LLC increased its stake in shares of Procore Technologies by 71.5% in the fourth quarter. Park Avenue Securities LLC now owns 12,713 shares of the company's stock valued at $953,000 after buying an additional 5,299 shares during the period. Northside Capital Management LLC increased its stake in shares of Procore Technologies by 28.2% in the fourth quarter. Northside Capital Management LLC now owns 45,236 shares of the company's stock valued at $3,390,000 after buying an additional 9,948 shares during the period. Finally, Procyon Advisors LLC bought a new position in shares of Procore Technologies during the fourth quarter worth about $242,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on PCOR shares. Barclays raised their price target on shares of Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Canaccord Genuity Group lifted their target price on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. JMP Securities raised their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 18th. Macquarie lowered their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, BMO Capital Markets dropped their target price on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Procore Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.24.

Procore Technologies Trading Down 1.1%

Shares of PCOR stock opened at $71.63 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $10.68 billion, a P/E ratio of -99.48 and a beta of 0.90. The company has a 50 day moving average of $64.72 and a 200-day moving average of $72.49. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $310.63 million during 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 business's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.30 earnings per share. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the transaction, the insider now owns 200 shares of the company's stock, valued at approximately $17,480. This trade represents a 84.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Howard Fu sold 8,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the sale, the chief financial officer now directly owns 156,188 shares in the company, valued at $13,588,356. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,142 shares of company stock worth $4,119,407 over the last ninety days. Insiders own 29.00% of the company's stock.

About Procore Technologies

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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