Wells Fargo & Company MN Acquires 73,574 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Wells Fargo & Company MN raised its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 68.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 181,797 shares of the company's stock after purchasing an additional 73,574 shares during the quarter. Wells Fargo & Company MN owned 0.12% of Procore Technologies worth $13,622,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PCOR. Chicago Partners Investment Group LLC grew its position in Procore Technologies by 0.8% during 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 lifted its position 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 worth $29,000 after acquiring an additional 147 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after acquiring an additional 162 shares during the period. Versant Capital Management Inc grew its holdings in shares of Procore Technologies by 92.1% during 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 in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Procore Technologies by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 4,438 shares of the company's stock valued at $333,000 after purchasing an additional 234 shares during the period. Institutional investors own 81.10% of the company's stock.

Insider Buying and Selling at Procore Technologies

In related news, Director Connor Kevin J. O sold 7,700 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total transaction of $436,359.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Howard Fu sold 8,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the sale, the chief financial officer now owns 156,188 shares in the company, valued at approximately $13,588,356. This trade represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,982 shares of company stock valued at $5,069,759. 29.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PCOR has been the subject of several research reports. Piper Sandler raised their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. decreased their target price on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. UBS Group increased their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. JMP Securities lifted their price objective on Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a report on Tuesday, February 18th. Finally, Barclays dropped their target price on Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $86.88.

Procore Technologies Price Performance

Shares of PCOR traded down $1.50 during mid-day trading on Friday, hitting $58.37. 1,030,883 shares of the company traded hands, compared to its average volume of 1,733,708. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $69.99 and a 200 day moving average of $72.21. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of -81.06 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share 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 the consensus estimate 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, equities analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal 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.