Charles Schwab Investment Management Inc. Raises Stake in Procore Technologies, Inc. (NYSE:PCOR)

Charles Schwab Investment Management Inc. lifted its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700,857 shares of the company's stock after acquiring an additional 18,554 shares during the period. Charles Schwab Investment Management Inc. owned 0.47% of Procore Technologies worth $52,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Diversified Trust Co boosted its stake in Procore Technologies by 157.1% during the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company's stock worth $3,795,000 after purchasing an additional 30,948 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Procore Technologies by 39.2% in the third quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company's stock worth $59,635,000 after buying an additional 272,030 shares in the last quarter. US Bancorp DE boosted its position in Procore Technologies by 18.8% during the fourth quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after acquiring an additional 3,390 shares during the last quarter. Barclays PLC grew its stake in Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after acquiring an additional 22,734 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Procore Technologies in the 4th quarter valued at about $56,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays boosted their target price on Procore Technologies from $84.00 to $90.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Mizuho upped their price objective on shares of Procore Technologies from $65.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Stifel Nicolaus raised their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Jefferies Financial Group upgraded shares of Procore Technologies from a "hold" rating to a "buy" rating and boosted their target price for the company from $80.00 to $100.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. 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 stock. According to MarketBeat, Procore Technologies currently has an average rating of "Moderate Buy" and an average price target of $90.24.

Insiders Place Their Bets

In related news, CFO Howard Fu sold 1,190 shares of Procore Technologies stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.00, for a total transaction of $79,730.00. Following the sale, the chief financial officer now directly owns 146,160 shares in the company, valued at $9,792,720. This trade represents a 0.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $67.10, for a total transaction of $344,088.80. Following the completion of the transaction, the director now owns 1,226,240 shares of the company's stock, valued at $82,280,704. This represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,657 shares of company stock worth $5,442,199 in the last 90 days. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Trading Up 2.4 %

Shares of PCOR stock traded up $1.65 on Monday, hitting $69.78. The stock had a trading volume of 1,047,539 shares, compared to its average volume of 1,672,970. The company's 50 day moving average price is $77.06 and its 200-day moving average price is $71.23. 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 has a market capitalization of $10.46 billion, a P/E ratio of -96.92 and a beta of 0.85.

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). The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current 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.