LPL Financial LLC Acquires 13,935 Shares of Procore Technologies, Inc. (NYSE:PCOR)

LPL Financial LLC grew its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 147.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,399 shares of the company's stock after purchasing an additional 13,935 shares during the period. LPL Financial LLC's holdings in Procore Technologies were worth $1,753,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc increased its stake in Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $27,000 after buying an additional 175 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after acquiring an additional 147 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after acquiring an additional 162 shares during the last quarter. Hilltop National Bank bought a new stake in Procore Technologies during the fourth quarter worth about $53,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock valued at $54,000 after purchasing an additional 674 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, March 31st. JMP Securities upped their price objective on Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 18th. Macquarie decreased their target price on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. cut their price target on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, UBS Group lifted their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.76.

Insider Activity

In other Procore Technologies news, CFO Howard Fu sold 8,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the transaction, the chief financial officer now directly owns 156,188 shares in the company, valued at approximately $13,588,356. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total value of $995,040.00. Following the sale, the executive now directly owns 161,368 shares in the company, valued at $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,482 shares of company stock worth $4,952,759. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Price Performance

NYSE:PCOR traded up $0.95 during mid-day trading on Tuesday, reaching $57.21. The stock had a trading volume of 1,214,543 shares, compared to its average volume of 1,732,372. The stock has a 50-day simple moving average of $69.27 and a two-hundred day simple moving average of $72.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92. The stock has a market capitalization of $8.58 billion, a PE ratio of -79.46 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

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.