Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 85.8% in the 1st quarter, HoldingsChannel reports. The fund owned 766,291 shares of the company’s stock after acquiring an additional 353,794 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Procore Technologies were worth $62,966,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PCOR. International Assets Investment Management LLC raised its holdings in Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after acquiring an additional 887 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Procore Technologies during the 4th quarter worth $62,000. TFO Wealth Partners LLC increased its holdings in shares of Procore Technologies by 43,600.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock worth $151,000 after buying an additional 2,180 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Procore Technologies during the 4th quarter worth $189,000. Finally, Wasatch Advisors LP acquired a new stake in shares of Procore Technologies during the 4th quarter worth $218,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $79.20, for a total transaction of $507,672.00. Following the transaction, the director now owns 1,494,311 shares of the company’s stock, valued at $118,349,431.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procore Technologies news, CFO Howard Fu sold 1,441 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $71.02, for a total value of $102,339.82. Following the sale, the chief financial officer now owns 192,178 shares in the company, valued at $13,648,481.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of 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. Over the last 90 days, insiders have sold 233,964 shares of company stock valued at $16,011,712. Insiders own 29.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PCOR. Canaccord Genuity Group dropped their price objective on Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Mizuho restated a “neutral” rating and set a $70.00 price objective (down from $75.00) on shares of Procore Technologies in a report on Tuesday, June 4th. TD Cowen began coverage on Procore Technologies in a report on Wednesday, June 12th. They set a “buy” rating and a $85.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and set a $85.00 price objective on shares of Procore Technologies in a report on Tuesday, June 11th. Finally, Piper Sandler decreased their price target on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.19.

Procore Technologies Stock Performance

NYSE:PCOR opened at $67.98 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The firm has a 50-day moving average of $67.26 and a two-hundred day moving average of $71.48. The stock has a market cap of $9.95 billion, a P/E ratio of -70.81 and a beta of 0.75. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The company had revenue of $269.43 million during the quarter, compared to analysts’ expectations of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. On average, research analysts expect that Procore Technologies, Inc. will post -0.35 earnings per share for the current fiscal year.

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.