Blair William & Co. IL Raises Stake in Procore Technologies, Inc. (NYSE:PCOR)

Blair William & Co. IL raised its position in Procore Technologies, Inc. (NYSE:PCOR) by 43.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 800,784 shares of the company’s stock after purchasing an additional 244,126 shares during the period. Blair William & Co. IL’s holdings in Procore Technologies were worth $60,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PCOR. Charles Schwab Investment Management Inc. raised its position in shares of Procore Technologies by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,303 shares of the company’s stock worth $42,112,000 after acquiring an additional 97,117 shares in the last quarter. Cerity Partners LLC increased its stake in Procore Technologies by 58.9% in the third quarter. Cerity Partners LLC now owns 53,509 shares of the company’s stock valued at $3,303,000 after purchasing an additional 19,838 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Procore Technologies by 8.7% during the third quarter. The Manufacturers Life Insurance Company now owns 31,718 shares of the company’s stock worth $1,958,000 after purchasing an additional 2,538 shares in the last quarter. FMR LLC lifted its position in shares of Procore Technologies by 4.6% during the 3rd quarter. FMR LLC now owns 17,939 shares of the company’s stock worth $1,107,000 after buying an additional 797 shares during the last quarter. Finally, Townsquare Capital LLC boosted its holdings in shares of Procore Technologies by 6.6% in the 3rd quarter. Townsquare Capital LLC now owns 12,882 shares of the company’s stock valued at $795,000 after buying an additional 793 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $73.62, for a total transaction of $377,523.36. Following the completion of the sale, the director now directly owns 1,264,700 shares in the company, valued at approximately $93,107,214. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total value of $117,000.00. Following the completion of the sale, the insider now owns 83,039 shares in the company, valued at approximately $6,477,042. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,604 shares of company stock worth $5,427,468. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $69.32 on Friday. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The company has a 50-day moving average price of $75.98 and a 200 day moving average price of $71.86. The company has a market cap of $10.39 billion, a P/E ratio of -96.27 and a beta of 0.85. 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 posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on PCOR. Stifel Nicolaus lifted their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Barclays boosted their target price on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Canaccord Genuity Group raised their price target on Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Piper Sandler lifted their price target on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Macquarie decreased their price objective on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, March 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.com, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $90.24.

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.