Allspring Global Investments Holdings LLC Buys 4,967 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Allspring Global Investments Holdings LLC grew its stake in Procore Technologies, Inc. (NYSE:PCOR) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 412,497 shares of the company’s stock after purchasing an additional 4,967 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.29% of Procore Technologies worth $28,553,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Procore Technologies by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,908,997 shares of the company’s stock worth $620,601,000 after acquiring an additional 734,057 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Procore Technologies by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock worth $557,746,000 after acquiring an additional 995,757 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Procore Technologies by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,744,726 shares of the company’s stock worth $309,926,000 after acquiring an additional 114,649 shares in the last quarter. BlackRock Inc. increased its stake in shares of Procore Technologies by 17.3% in the 2nd quarter. BlackRock Inc. now owns 3,576,438 shares of the company’s stock worth $232,719,000 after acquiring an additional 527,268 shares in the last quarter. Finally, Cadian Capital Management LP increased its stake in shares of Procore Technologies by 9.1% in the 3rd quarter. Cadian Capital Management LP now owns 3,026,123 shares of the company’s stock worth $197,666,000 after acquiring an additional 253,000 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PCOR. Piper Sandler raised their price objective on shares of Procore Technologies from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. The Goldman Sachs Group raised their price objective on shares of Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 16th. KeyCorp raised their price objective on shares of Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. DA Davidson restated a “buy” rating and set a $95.00 price objective on shares of Procore Technologies in a research note on Thursday, March 14th. Finally, Stifel Nicolaus raised their price target on shares of Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.86.

Procore Technologies Trading Down 2.0 %

PCOR opened at $73.44 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50 day moving average is $77.23 and its 200 day moving average is $68.57. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $83.35.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative net margin of 19.97% and a negative return on equity of 12.26%. The company had revenue of $260.04 million for the quarter, compared to analysts’ expectations of $248.20 million. As a group, equities analysts expect that Procore Technologies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $79.20, for a total transaction of $507,672.00. Following the sale, the director now owns 1,494,311 shares in the company, valued at approximately $118,349,431.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Benjamin C. Singer sold 3,000 shares of Procore Technologies stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $82.15, for a total transaction of $246,450.00. Following the sale, the insider now owns 125,321 shares in the company, valued at $10,295,120.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $79.20, for a total transaction of $507,672.00. Following the sale, the director now owns 1,494,311 shares in the company, valued at approximately $118,349,431.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 467,373 shares of company stock worth $36,589,678. Company insiders own 39.20% of the company’s stock.

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.