Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Jasper Ridge Partners L.P.

Jasper Ridge Partners L.P. reduced its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 66.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,849 shares of the company's stock after selling 11,612 shares during the period. Jasper Ridge Partners L.P.'s holdings in Procore Technologies were worth $438,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Procore Technologies by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company's stock valued at $891,692,000 after purchasing an additional 838,925 shares during the period. Capital World Investors lifted its stake in shares of Procore Technologies by 453.6% in the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company's stock valued at $233,704,000 after purchasing an additional 2,555,612 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Procore Technologies by 99.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock valued at $214,377,000 after purchasing an additional 1,425,967 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Procore Technologies by 29,376.1% in the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the period. Finally, FIL Ltd raised its position in Procore Technologies by 4.0% during the fourth quarter. FIL Ltd now owns 2,171,975 shares of the company's stock worth $162,746,000 after acquiring an additional 84,216 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the completion of the sale, the executive now owns 161,368 shares in the company, valued at $13,380,634.56. The trade was a 6.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Connor Kevin J. O sold 7,700 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total value of $436,359.00. Following the transaction, the director now directly owns 1,208,284 shares in the company, valued at $68,473,454.28. This trade represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,142 shares of company stock worth $4,626,417. Insiders own 29.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PCOR shares. JMP Securities upped 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. Stifel Nicolaus dropped their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 2nd. DA Davidson raised shares of Procore Technologies to a "hold" rating in a report on Tuesday. Scotiabank dropped their target price on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $80.24.

Procore Technologies Stock Down 0.5%

PCOR stock traded down $0.35 during midday trading on Friday, reaching $71.08. 766,702 shares of the company were exchanged, compared to its average volume of 1,717,885. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The stock's 50-day simple moving average is $64.77 and its 200 day simple moving average is $72.56. The company has a market cap of $10.60 billion, a price-to-earnings ratio of -98.72 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The company had revenue of $310.63 million for the quarter, compared to analysts' expectations of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. On average, equities analysts forecast 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.