Allspring Global Investments Holdings LLC Has $36.92 Million Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Allspring Global Investments Holdings LLC decreased its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 491,141 shares of the company's stock after selling 30,196 shares during the period. Allspring Global Investments Holdings LLC owned 0.33% of Procore Technologies worth $36,917,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. GAMMA Investing LLC raised its holdings in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company's stock valued at $25,000 after buying an additional 175 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Procore Technologies during the third quarter valued at about $26,000. Hilltop National Bank bought a new position in Procore Technologies during the fourth quarter valued at about $53,000. Finally, International Assets Investment Management LLC raised its holdings in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company's stock valued at $49,000 after buying an additional 789 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

PCOR has been the topic of several recent research reports. Piper Sandler raised their target price on Procore Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Friday. The Goldman Sachs Group raised their target price on Procore Technologies from $73.00 to $83.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Scotiabank raised their target price on Procore Technologies from $70.00 to $85.00 and gave the company a "sector outperform" rating in a report on Friday, November 22nd. TD Cowen lifted their price objective on Procore Technologies from $70.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Finally, Barclays lifted their price objective on Procore Technologies from $84.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.94.

Procore Technologies Stock Performance

PCOR traded up $0.16 on Tuesday, hitting $87.66. 1,093,175 shares of the stock traded hands, compared to its average volume of 1,225,280. 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 business has a fifty day moving average price of $77.72 and a two-hundred day moving average price of $68.73. The firm has a market capitalization of $13.03 billion, a PE ratio of -175.12 and a beta of 0.84. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.88.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.46). The company 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 6.59% and a negative return on equity of 2.51%. On average, research analysts predict that Procore Technologies, Inc. will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, Director Connor Kevin J. O sold 33,332 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total value of $2,730,890.76. Following the transaction, the director now directly owns 1,282,648 shares of the company's stock, valued at $105,087,350.64. The trade was a 2.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $190,388.48. Following the completion of the transaction, the senior vice president now directly owns 72,605 shares in the company, valued at $5,181,092.80. The trade was a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,656 shares of company stock valued at $8,776,297. 29.00% of the stock is currently owned by corporate insiders.

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.