Procore Technologies, Inc. (NYSE:PCOR) Stock Holdings Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund raised its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 428,956 shares of the company’s stock after buying an additional 16,703 shares during the period. New York State Common Retirement Fund’s holdings in Procore Technologies were worth $32,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC acquired a new position in shares of Procore Technologies in the 4th quarter worth $40,140,000. Truist Financial Corp grew its holdings in shares of Procore Technologies by 31.5% in the 4th quarter. Truist Financial Corp now owns 73,361 shares of the company’s stock worth $5,497,000 after acquiring an additional 17,561 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Procore Technologies by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 4,438 shares of the company’s stock worth $333,000 after acquiring an additional 234 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Procore Technologies by 24.2% in the 4th quarter. Sanctuary Advisors LLC now owns 4,561 shares of the company’s stock worth $365,000 after acquiring an additional 889 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Procore Technologies by 29,376.1% in the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock worth $200,810,000 after acquiring an additional 2,670,872 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 6,410 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $76.77, for a total value of $492,095.70. Following the sale, the director now directly owns 1,231,368 shares in the company, valued at approximately $94,532,121.36. This represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the sale, the insider now owns 84,539 shares in the company, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,600 shares of company stock worth $5,846,541. Company insiders own 29.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PCOR shares. Robert W. Baird lifted their price target on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Piper Sandler lifted their price target on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Stifel Nicolaus lifted their price target on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price objective on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Mizuho lifted their price objective on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.94.

Procore Technologies Trading Down 4.0 %

Procore Technologies stock opened at $83.03 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The business’s 50-day simple moving average is $78.02 and its 200-day simple moving average is $69.17. The firm has a market capitalization of $12.34 billion, a PE ratio of -115.32 and a beta of 0.84. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Equities research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

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.