Maestria Partners LLC Invests $12.30 Million in Procore Technologies, Inc. (NYSE:PCOR)

Maestria Partners LLC bought a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 164,140 shares of the company's stock, valued at approximately $12,299,000. Procore Technologies comprises 4.9% of Maestria Partners LLC's holdings, making the stock its 13th biggest position. Maestria Partners LLC owned 0.11% of Procore Technologies as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Procore Technologies by 27,239.5% in the third quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company's stock worth $97,599,000 after acquiring an additional 1,575,534 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Procore Technologies by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock worth $214,377,000 after acquiring an additional 1,425,967 shares during the last quarter. PointState Capital LP acquired a new position in Procore Technologies in the third quarter valued at approximately $81,306,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company's stock valued at $142,267,000 after purchasing an additional 1,297,151 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

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Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group boosted their price objective on Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Mizuho raised their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Piper Sandler boosted their price objective on Procore Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Stifel Nicolaus increased their price objective on Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Barclays boosted their price target on Procore Technologies from $84.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.24.

Procore Technologies Trading Up 2.4 %

Shares of PCOR traded up $1.69 during midday trading on Monday, hitting $72.07. The stock had a trading volume of 529,587 shares, compared to its average volume of 1,672,671. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The business has a 50-day simple moving average of $76.34 and a two-hundred day simple moving average of $71.76. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $10.81 billion, a P/E ratio of -100.10 and a beta of 0.85.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its 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). The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, equities analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity

In other news, CFO Howard Fu sold 1,190 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.00, for a total transaction of $79,730.00. Following the transaction, the chief financial officer now directly owns 146,160 shares in the company, valued at $9,792,720. The trade was a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the sale, the executive now owns 161,368 shares of the company's stock, valued at approximately $13,380,634.56. This represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,604 shares of company stock worth $5,427,468 in the last 90 days. Company insiders own 29.00% of the company's stock.

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.