Artisan Partners Limited Partnership Acquires 127,783 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Artisan Partners Limited Partnership lifted its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 923,653 shares of the company's stock after purchasing an additional 127,783 shares during the period. Artisan Partners Limited Partnership owned 0.62% of Procore Technologies worth $69,209,000 as of its most recent filing with the SEC.

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

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Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 8,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the sale, the chief financial officer now directly owns 156,188 shares of the company's stock, valued at approximately $13,588,356. The trade was a 4.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now owns 161,368 shares in the company, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,604 shares of company stock worth $5,427,468. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Price Performance

Shares of PCOR traded up $1.66 on Tuesday, hitting $67.68. The company's stock had a trading volume of 1,243,513 shares, compared to its average volume of 1,701,595. The company has a market capitalization of $10.15 billion, a PE ratio of -94.00 and a beta of 0.85. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The company has a 50 day moving average price of $75.34 and a 200 day moving average price of $72.32. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data 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). 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 the consensus estimate of $297.72 million. On average, research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Barclays raised their price objective 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. Macquarie decreased their price objective on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. KeyCorp upped their target price on Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus raised their target price 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 investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $89.65.

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.