23,370 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,370 shares of the company's stock, valued at approximately $1,751,000. Procore Technologies comprises 0.5% of Bryce Point Capital LLC's holdings, making the stock its 29th largest position.

Several other hedge funds also recently modified their holdings of PCOR. 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. Parkside Financial Bank & Trust boosted its holdings in shares of 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 buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after buying an additional 162 shares in the last quarter. Huntington National Bank increased its holdings in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after buying an additional 404 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in Procore Technologies during the fourth quarter worth $53,000. Institutional investors own 81.10% of the company's stock.

Remove Ads

Procore Technologies Price Performance

Shares of NYSE PCOR traded down $0.28 during midday trading on Monday, reaching $57.05. The company's stock had a trading volume of 776,326 shares, compared to its average volume of 1,415,891. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $8.55 billion, a P/E ratio of -79.25 and a beta of 0.90. The business's 50 day moving average price is $74.39 and its two-hundred day moving average price is $72.44. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million during 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%. On average, analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Jefferies Financial Group dropped their price objective on Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Robert W. Baird lifted their target price on Procore Technologies from $87.00 to $96.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. UBS Group increased their price target on Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Macquarie reduced their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.65.

Insider Activity at Procore Technologies

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

About Procore Technologies

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.