Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,541 shares of the company’s stock after purchasing an additional 13,534 shares during the period. Rhumbline Advisers owned approximately 0.10% of Procore Technologies worth $10,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PCOR. US Bancorp DE raised its holdings in shares of Procore Technologies by 18.8% during the fourth quarter. US Bancorp DE now owns 21,416 shares of the company’s stock valued at $1,605,000 after acquiring an additional 3,390 shares during the period. Raymond James Financial Inc. bought a new position in Procore Technologies in the 4th quarter worth $20,729,000. SBI Securities Co. Ltd. bought a new position in Procore Technologies in the 4th quarter worth $56,000. Brighton Jones LLC acquired a new stake in Procore Technologies in the 4th quarter worth $511,000. Finally, BNP Paribas Financial Markets acquired a new stake in Procore Technologies in the 4th quarter worth $1,058,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Procore Technologies from $93.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. JMP Securities boosted their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced 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. BMO Capital Markets reduced their target price on shares of Procore Technologies from $95.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group dropped their price target on shares of Procore Technologies from $110.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.24.

Procore Technologies Stock Down 0.4%

Shares of PCOR stock opened at $67.61 on Tuesday. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of -93.90 and a beta of 0.90. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The firm has a fifty day moving average of $64.46 and a 200-day moving average of $72.39. 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 released its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. As a group, equities research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Kathryn Bueker sold 7,000 shares of Procore Technologies stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $72.43, for a total value of $507,010.00. Following the completion of the sale, the director now owns 16,932 shares in the company, valued at $1,226,384.76. The trade was a 29.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin C. Singer sold 4,203 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total transaction of $289,628.73. Following the completion of the transaction, the insider now owns 102,057 shares of the company’s stock, valued at $7,032,747.87. The trade was a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,981 shares of company stock worth $2,941,093 over the last quarter. 29.00% of the stock is currently owned by insiders.

Procore Technologies 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.