Tower Research Capital LLC TRC Purchases Shares of 9,848 Procore Technologies, Inc. (NYSE:PCOR)

Tower Research Capital LLC TRC acquired a new position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,848 shares of the company's stock, valued at approximately $738,000.

Several other institutional investors have also recently modified their holdings of PCOR. Chicago Partners Investment Group LLC boosted its stake in Procore Technologies by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock worth $1,199,000 after buying an additional 129 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake 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 purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after purchasing an additional 162 shares during the last quarter. Versant Capital Management Inc raised its position in Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the period. Finally, Covestor Ltd lifted its stake 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 purchasing an additional 206 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho decreased their price objective on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. BMO Capital Markets lowered their price objective on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Canaccord Genuity Group raised their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. JMP Securities upped their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a report on Tuesday, February 18th. Finally, Piper Sandler dropped their target price on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Procore Technologies has a consensus rating of "Moderate Buy" and an average price target of $81.18.

Procore Technologies Stock Down 0.0 %

NYSE:PCOR traded down $0.01 during mid-day trading on Wednesday, hitting $63.98. 914,756 shares of the company's stock were exchanged, compared to its average volume of 1,729,973. The company has a market cap of $9.54 billion, a PE ratio of -88.86 and a beta of 0.90. 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 one year low of $49.46 and a one year high of $88.92. The business has a fifty day moving average price of $66.90 and a 200 day moving average price of $72.26.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results 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 return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Equities analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity

In related news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 200 shares of the company's stock, valued at $17,480. This trade represents a 84.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $77.33, for a total value of $495,685.30. Following the completion of the transaction, the director now directly owns 1,244,188 shares in the company, valued at $96,213,058.04. This trade represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,962 shares of company stock worth $5,041,588 over the last three months. 29.00% of the stock is currently owned by corporate insiders.

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.