Burney Co. Sells 3,377 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Burney Co. trimmed its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 27.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,040 shares of the company's stock after selling 3,377 shares during the quarter. Burney Co.'s holdings in Procore Technologies were worth $677,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PCOR. Assenagon Asset Management S.A. raised its position in shares of 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 valued at $214,377,000 after purchasing an additional 1,425,967 shares during the period. Meritage Group LP grew its stake in Procore Technologies by 66.6% in the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company's stock valued at $169,453,000 after buying an additional 1,098,019 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company's stock worth $142,267,000 after acquiring an additional 1,297,151 shares during the period. Dragoneer Investment Group LLC lifted its position in Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company's stock worth $148,762,000 after acquiring an additional 1,609,607 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in Procore Technologies by 1.1% during the third quarter. Holocene Advisors LP now owns 1,873,343 shares of the company's stock valued at $115,623,000 after acquiring an additional 21,234 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PCOR. UBS Group began coverage on Procore Technologies in a report on Monday, December 2nd. They set a "buy" rating and a $105.00 price target for the company. The Goldman Sachs Group increased their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Jefferies Financial Group upgraded shares of Procore Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $80.00 to $100.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on shares of Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Finally, KeyCorp lifted their target price on Procore Technologies from $68.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.00.

Insider Buying and Selling

In other Procore Technologies news, CFO Howard Fu sold 1,500 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total value of $107,625.00. Following the sale, the chief financial officer now directly owns 171,997 shares in the company, valued at approximately $12,340,784.75. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $76.62, for a total transaction of $491,134.20. Following the completion of the sale, the director now owns 1,250,598 shares of the company's stock, valued at approximately $95,820,818.76. This represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,231 shares of company stock valued at $11,347,753 over the last three months. Company insiders own 29.00% of the company's stock.

Procore Technologies Price Performance

Shares of Procore Technologies stock traded down $1.08 during midday trading on Friday, reaching $77.03. The company had a trading volume of 854,568 shares, compared to its average volume of 1,322,424. 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 stock has a fifty day simple moving average of $77.10 and a 200 day simple moving average of $67.22. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $86.67. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of -154.06 and a beta of 0.83.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analysts' expectations of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, equities research analysts forecast that Procore Technologies, Inc. will post -0.22 earnings per share for the current year.

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.