Capital World Investors Purchases 2,555,612 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Capital World Investors increased its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 453.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,118,962 shares of the company's stock after purchasing an additional 2,555,612 shares during the quarter. Capital World Investors owned approximately 2.10% of Procore Technologies worth $233,704,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PCOR. Dimensional Fund Advisors LP grew its position in Procore Technologies by 20.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 729,268 shares of the company's stock valued at $54,647,000 after purchasing an additional 124,449 shares during the period. First Trust Advisors LP raised its holdings in shares of Procore Technologies by 682.3% in the 4th quarter. First Trust Advisors LP now owns 68,289 shares of the company's stock worth $5,117,000 after acquiring an additional 59,560 shares during the last quarter. GeoWealth Management LLC acquired a new position in Procore Technologies during the 4th quarter valued at about $78,000. Champlain Investment Partners LLC purchased a new stake in Procore Technologies in the 4th quarter valued at $105,747,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Procore Technologies by 5.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 117,100 shares of the company's stock valued at $8,774,000 after purchasing an additional 6,200 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PCOR shares. Macquarie dropped their price target on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group lowered their price objective on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. JMP Securities increased their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 18th. UBS Group decreased their price target on Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Barclays cut their target price on Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.18.

Insiders Place Their Bets

In other Procore Technologies news, CFO Howard Fu sold 1,480 shares of Procore Technologies stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $60.02, for a total transaction of $88,829.60. Following the transaction, the chief financial officer now directly owns 206,704 shares in the company, valued at approximately $12,406,374.08. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $77.33, for a total value of $495,685.30. Following the completion of the sale, the director now directly owns 1,244,188 shares of the company's stock, valued at approximately $96,213,058.04. This represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,962 shares of company stock worth $5,041,588. 29.00% of the stock is owned by company insiders.

Procore Technologies Price Performance

Shares of NYSE PCOR traded up $0.81 on Friday, hitting $63.80. The company's stock had a trading volume of 1,082,207 shares, compared to its average volume of 1,736,585. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of -88.61 and a beta of 0.90. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The stock has a 50 day moving average of $67.74 and a 200-day moving average of $72.15.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.46). The firm had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

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.