California Public Employees Retirement System Sells 46,931 Shares of Procore Technologies, Inc. (NYSE:PCOR)

California Public Employees Retirement System lessened its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 27.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,324 shares of the company's stock after selling 46,931 shares during the period. California Public Employees Retirement System owned approximately 0.08% of Procore Technologies worth $9,465,000 as of its most recent filing with the Securities and Exchange Commission.

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

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Procore Technologies Trading Down 0.4 %

Shares of NYSE PCOR traded down $0.24 during midday trading on Friday, reaching $60.50. The stock had a trading volume of 1,305,869 shares, compared to its average volume of 1,728,632. The company's 50 day moving average price is $71.63 and its 200 day moving average price is $72.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of -84.03 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last released 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). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. As a group, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity at Procore Technologies

In other news, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the insider now owns 83,039 shares of the company's stock, valued at $6,477,042. This represents a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $73.62, for a total value of $377,523.36. Following the completion of the sale, the director now owns 1,264,700 shares of the company's stock, valued at approximately $93,107,214. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,304 shares of company stock worth $5,863,827 in the last 90 days. Corporate insiders own 29.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on PCOR shares. Stifel Nicolaus boosted their target price on Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Piper Sandler increased their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. KeyCorp raised their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. UBS Group upped their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Barclays increased their price target on Procore Technologies from $84.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies currently has an average rating of "Moderate Buy" and an average price target of $89.24.

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.