Canada Pension Plan Investment Board Acquires 6,200 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Canada Pension Plan Investment Board raised its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,100 shares of the company's stock after buying an additional 6,200 shares during the period. Canada Pension Plan Investment Board owned approximately 0.08% of Procore Technologies worth $8,774,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Diversified Trust Co increased its position in shares of Procore Technologies by 157.1% in the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company's stock worth $3,795,000 after acquiring an additional 30,948 shares in the last quarter. US Bancorp DE grew its position in Procore Technologies by 18.8% during the 4th quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after purchasing an additional 3,390 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Procore Technologies during the 4th quarter valued at $20,729,000. Barclays PLC lifted its holdings in shares of Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after purchasing an additional 22,734 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Procore Technologies in the fourth quarter worth $56,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCOR. DA Davidson dropped their price target on Procore Technologies from $80.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Macquarie reduced their price target 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. Canaccord Genuity Group boosted 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. JPMorgan Chase & Co. dropped their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, BMO Capital Markets decreased their target price on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday. Four investment 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.18.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 7,700 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total value of $436,359.00. Following the completion of the sale, the director now owns 1,208,284 shares in the company, valued at approximately $68,473,454.28. This trade represents a 0.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Fu sold 1,480 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $60.02, for a total value of $88,829.60. Following the sale, the chief financial officer now owns 206,704 shares in the company, valued at approximately $12,406,374.08. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,962 shares of company stock valued at $5,041,588. 29.00% of the stock is owned by company insiders.

Procore Technologies Stock Performance

NYSE:PCOR traded up $0.81 during midday trading on Friday, reaching $63.80. The stock had a trading volume of 1,082,207 shares, compared to its average volume of 1,736,585. The stock has a market capitalization of $9.57 billion, a P/E ratio of -88.61 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm's fifty day simple moving average is $67.74 and its 200-day simple moving average is $72.15.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly 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 business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. On average, equities research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.