Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Xponance Inc.

Xponance Inc. reduced its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,786 shares of the company’s stock after selling 578 shares during the quarter. Xponance Inc.’s holdings in Procore Technologies were worth $747,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. IFP Advisors Inc increased its stake in Procore Technologies by 2,600.0% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the company’s stock valued at $25,000 after purchasing an additional 364 shares in the last quarter. Caprock Group LLC increased its stake in Procore Technologies by 4.4% in the 3rd quarter. Caprock Group LLC now owns 6,430 shares of the company’s stock valued at $420,000 after purchasing an additional 273 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Procore Technologies by 0.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 25,900 shares of the company’s stock valued at $1,692,000 after purchasing an additional 200 shares in the last quarter. Ellsworth Advisors LLC purchased a new position in Procore Technologies in the 3rd quarter valued at approximately $370,000. Finally, Raymond James & Associates purchased a new position in Procore Technologies in the 3rd quarter valued at approximately $261,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Trading Up 0.4 %

Shares of PCOR opened at $70.09 on Friday. The stock’s 50-day moving average is $76.82 and its two-hundred day moving average is $68.90. The stock has a market cap of $10.16 billion, a PE ratio of -52.70 and a beta of 0.71. Procore Technologies, Inc. has a 12 month low of $48.11 and a 12 month high of $83.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49.

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

Insiders Place Their Bets

In related news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $4,821,679.40. Following the transaction, the chief executive officer now owns 748,247 shares in the company, valued at $55,295,453.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $4,821,679.40. Following the transaction, the chief executive officer now owns 748,247 shares in the company, valued at $55,295,453.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Howard Fu sold 1,441 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $71.02, for a total value of $102,339.82. Following the completion of the transaction, the chief financial officer now owns 192,178 shares in the company, valued at approximately $13,648,481.56. The disclosure for this sale can be found here. Insiders have sold a total of 467,672 shares of company stock worth $36,612,454 over the last quarter. 39.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PCOR. DA Davidson reissued a “buy” rating and set a $95.00 price target on shares of Procore Technologies in a research report on Thursday, March 14th. KeyCorp lifted their price objective on Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Stifel Nicolaus lifted their price objective on Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lifted their price objective on Procore Technologies from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Finally, BMO Capital Markets lifted their price objective on Procore Technologies from $76.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.86.

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.