Summit Global Investments Purchases New Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Summit Global Investments bought a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,025 shares of the company's stock, valued at approximately $676,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCOR. Chicago Partners Investment Group LLC grew its stake in shares of Procore Technologies by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock valued at $1,199,000 after buying an additional 129 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after acquiring an additional 147 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after purchasing an additional 162 shares during the period. Versant Capital Management Inc lifted its position in shares of Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Procore Technologies by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 4,438 shares of the company's stock valued at $333,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

Remove Ads

Insider Buying and Selling

In other news, CFO Howard Fu sold 1,447 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $68.79, for a total value of $99,539.13. Following the completion of the transaction, the chief financial officer now directly owns 144,713 shares in the company, valued at $9,954,807.27. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $17,480. This trade represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,604 shares of company stock worth $5,427,468 in the last three months. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Stock Up 0.3 %

Shares of PCOR stock traded up $0.20 during trading hours on Tuesday, reaching $72.16. 302,317 shares of the company's stock were exchanged, compared to its average volume of 1,672,623. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The stock's 50 day moving average is $76.34 and its 200-day moving average is $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 company has a market cap of $10.82 billion, a price-to-earnings ratio of -100.39 and a beta of 0.85.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PCOR shares. Barclays raised their price target on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Macquarie dropped their price objective on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Jefferies Financial Group raised Procore Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $80.00 to $100.00 in a research report on Monday, January 6th. Finally, Stifel Nicolaus increased their price target on Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Four 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.