TFJ Management LLC Takes $5.27 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

TFJ Management LLC bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 70,271 shares of the company's stock, valued at approximately $5,265,000. Procore Technologies accounts for about 4.7% of TFJ Management LLC's holdings, making the stock its 9th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its position in Procore Technologies by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock worth $1,199,000 after purchasing an additional 129 shares during the period. Parkside Financial Bank & Trust lifted 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 buying an additional 147 shares during the period. V Square Quantitative Management LLC boosted its stake 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 buying an additional 162 shares in the last quarter. Versant Capital Management Inc grew its holdings in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after acquiring an additional 175 shares during the period. Finally, Covestor Ltd raised its position in Procore Technologies by 15.1% in the fourth quarter. Covestor Ltd now owns 1,571 shares of the company's stock worth $118,000 after acquiring an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Trading Up 1.5 %

Procore Technologies stock traded up $0.97 during trading on Friday, hitting $63.96. The company's stock had a trading volume of 543,467 shares, compared to its average volume of 1,733,460. The stock's fifty day moving average is $68.24 and its 200 day moving average is $72.12. 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 $9.59 billion, a price-to-earnings ratio of -88.86 and a beta of 0.90. 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 (NYSE:PCOR - Get Free Report) last posted 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). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. As a group, equities research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity

In other news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business's stock in a transaction dated 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 sale, the insider now owns 200 shares in the company, valued at approximately $17,480. The trade was a 84.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin C. Singer sold 6,937 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $83.60, for a total transaction of $579,933.20. Following the sale, the insider now directly owns 72,110 shares of the company's stock, valued at approximately $6,028,396. This trade represents a 8.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,482 shares of company stock valued at $4,952,759 in the last ninety days. Company insiders own 29.00% of the company's stock.

Analysts Set New Price Targets

PCOR has been the topic of a number of recent analyst reports. Scotiabank lowered their price target on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research note on Thursday. BMO Capital Markets lowered 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. Piper Sandler reduced their price target 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. KeyCorp lowered their price target on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Canaccord Genuity Group lifted their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.18.

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.