Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in Procore Technologies, Inc. (NYSE:PCOR) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 428,956 shares of the company’s stock after acquiring an additional 16,703 shares during the quarter. New York State Common Retirement Fund owned approximately 0.29% of Procore Technologies worth $32,142,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PCOR. Versant Capital Management Inc grew its position in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC grew its position in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after acquiring an additional 162 shares during the period. International Assets Investment Management LLC grew its position in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares during the period. Hilltop National Bank purchased a new stake in Procore Technologies during the fourth quarter valued at about $53,000. Finally, GAMMA Investing LLC grew its position in Procore Technologies by 84.7% during the fourth quarter. GAMMA Investing LLC now owns 746 shares of the company’s stock valued at $56,000 after acquiring an additional 342 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Trading Down 4.0 %

Shares of NYSE PCOR opened at $83.03 on Friday. The stock’s 50 day moving average price is $78.02 and its two-hundred day moving average price is $69.17. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The stock has a market capitalization of $12.34 billion, a P/E ratio of -115.32 and a beta of 0.84. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last announced its quarterly 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 company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PCOR shares. DA Davidson upped their target price on Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Barclays increased their price target on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Canaccord Genuity Group increased their price target on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, JMP Securities increased their price target on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday. Four research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.94.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 33,332 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total value of $2,730,890.76. Following the completion of the transaction, the director now directly owns 1,282,648 shares of the company’s stock, valued at $105,087,350.64. This represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the transaction, the insider now directly owns 84,539 shares of the company’s stock, valued at $6,440,181.02. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,600 shares of company stock worth $5,846,541. 29.00% of the stock is currently owned by company insiders.

Procore Technologies Company Profile

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.