Vanguard Group Inc. Has $891.69 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

Vanguard Group Inc. lifted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 7.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,900,337 shares of the company’s stock after acquiring an additional 838,925 shares during the period. Vanguard Group Inc. owned 8.01% of Procore Technologies worth $891,692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PCOR. LPL Financial LLC raised its holdings in shares of Procore Technologies by 147.2% during the fourth quarter. LPL Financial LLC now owns 23,399 shares of the company’s stock valued at $1,753,000 after purchasing an additional 13,935 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Procore Technologies during the 4th quarter worth approximately $1,574,000. Sei Investments Co. boosted its holdings in Procore Technologies by 75.5% in the fourth quarter. Sei Investments Co. now owns 465,472 shares of the company’s stock worth $34,878,000 after acquiring an additional 200,317 shares in the last quarter. American Century Companies Inc. boosted its holdings in Procore Technologies by 486.2% in the fourth quarter. American Century Companies Inc. now owns 25,689 shares of the company’s stock worth $1,925,000 after acquiring an additional 21,307 shares in the last quarter. Finally, Summit Global Investments bought a new stake in shares of Procore Technologies during the fourth quarter valued at approximately $676,000. 81.10% of the stock is owned by institutional investors.

Insider Transactions at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $76.62, for a total transaction of $491,134.20. Following the completion of the transaction, the director now owns 1,250,598 shares in the company, valued at $95,820,818.76. This trade represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the completion of the sale, the insider now directly owns 83,039 shares in the company, valued at approximately $6,477,042. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,604 shares of company stock worth $5,427,468 in the last quarter. Insiders own 29.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PCOR. UBS Group increased their target price on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Macquarie dropped their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. JMP Securities lifted their price objective 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. Stifel Nicolaus upped their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group lifted their price target on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.24.

Procore Technologies Stock Down 3.7 %

Shares of NYSE:PCOR opened at $66.74 on Friday. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The company has a market capitalization of $10.01 billion, a PE ratio of -92.70 and a beta of 0.85. The business has a fifty day moving average price of $75.77 and a two-hundred day moving average price of $71.94. 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 (NYSE:PCOR) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current 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.