Square Peg Capital PTY Ltd. purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 183,351 shares of the company's stock, valued at approximately $13,738,000. Procore Technologies comprises about 12.6% of Square Peg Capital PTY Ltd.'s holdings, making the stock its 3rd largest holding. Square Peg Capital PTY Ltd. owned approximately 0.12% of Procore Technologies as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Procore Technologies by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company's stock worth $891,692,000 after purchasing an additional 838,925 shares during the period. Capital World Investors boosted its position in shares of Procore Technologies by 453.6% during the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company's stock worth $233,704,000 after purchasing an additional 2,555,612 shares during the period. Principal Financial Group Inc. boosted its position in shares of Procore Technologies by 29,376.1% during the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock worth $200,810,000 after purchasing an additional 2,670,872 shares during the period. Janus Henderson Group PLC boosted its position in shares of Procore Technologies by 14.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock worth $196,873,000 after purchasing an additional 322,367 shares during the period. Finally, FIL Ltd boosted its position in shares of Procore Technologies by 4.0% during the 4th quarter. FIL Ltd now owns 2,171,975 shares of the company's stock worth $162,746,000 after purchasing an additional 84,216 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.
Insider Activity at Procore Technologies
In other Procore Technologies news, insider Benjamin C. Singer sold 6,937 shares of Procore Technologies stock in a transaction on Friday, February 21st. The shares were sold at an average price of $83.60, for a total value of $579,933.20. Following the transaction, the insider now directly owns 72,110 shares in the company, valued at approximately $6,028,396. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction on Wednesday, February 19th. The shares were 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 in the company, valued at approximately $17,480. This represents a 84.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,834 shares of company stock valued at $5,181,472 over the last ninety days. Insiders own 29.00% of the company's stock.
Procore Technologies Stock Performance
PCOR traded down $1.20 on Monday, reaching $69.88. The company had a trading volume of 627,109 shares, compared to its average volume of 1,718,687. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The stock has a market capitalization of $10.42 billion, a PE ratio of -97.05 and a beta of 0.90. 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 stock has a 50-day moving average price of $64.88 and a 200-day moving average price of $72.73.
Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm had revenue of $310.63 million during the quarter, compared to analysts' expectations of $302.66 million. During the same period in the previous year, the company earned $0.30 earnings per share. Procore Technologies's quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on PCOR shares. Piper Sandler lowered their price objective on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. DA Davidson raised shares of Procore Technologies to a "hold" rating in a research report on Tuesday, May 13th. KeyCorp decreased their price target on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Canaccord Genuity Group raised their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. 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 stock. According to MarketBeat.com, Procore Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $80.24.
View Our Latest Report on Procore Technologies
About Procore Technologies
(
Free Report)
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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