Choreo LLC Makes New Investment in Procore Technologies, Inc. (NYSE:PCOR)

Choreo LLC bought a new position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,280 shares of the company's stock, valued at approximately $247,000.

Several other hedge funds also recently made changes to their positions in the company. Diversified Trust Co boosted its position in Procore Technologies by 157.1% during the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company's stock valued at $3,795,000 after purchasing an additional 30,948 shares during the period. Westfield Capital Management Co. LP boosted its position in Procore Technologies by 39.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company's stock valued at $59,635,000 after purchasing an additional 272,030 shares during the period. Barclays PLC boosted its position 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 purchasing an additional 22,734 shares during the period. Advantage Alpha Capital Partners LP boosted its position in Procore Technologies by 30.2% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company's stock valued at $7,825,000 after purchasing an additional 29,431 shares during the period. Finally, Pathstone Holdings LLC raised its stake in Procore Technologies by 804.3% during the 3rd quarter. Pathstone Holdings LLC now owns 145,802 shares of the company's stock valued at $8,999,000 after acquiring an additional 129,679 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Procore Technologies Price Performance

Shares of NYSE PCOR traded up $1.03 during mid-day trading on Tuesday, reaching $88.53. The company had a trading volume of 752,125 shares, compared to its average volume of 1,219,312. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.88. 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 market cap of $13.16 billion, a PE ratio of -176.81 and a beta of 0.84. The company has a 50-day moving average price of $77.72 and a two-hundred day moving average price of $68.73.

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 for the quarter, missing analysts' consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The business had revenue of $302.05 million for the quarter, compared to analysts' expectations of $297.72 million. On average, equities analysts anticipate that Procore Technologies, Inc. will post -0.22 earnings per share for the current year.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total value of $2,730,890.76. Following the transaction, the director now owns 1,282,648 shares in the company, valued at $105,087,350.64. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $190,388.48. Following the completion of the transaction, the senior vice president now owns 72,605 shares in the company, valued at $5,181,092.80. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,656 shares of company stock worth $8,776,297. 29.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on PCOR. Mizuho lifted their target price on Procore Technologies from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. The Goldman Sachs Group lifted their target price on Procore Technologies from $73.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. BMO Capital Markets boosted their price objective on Procore Technologies from $71.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Finally, Scotiabank boosted their price objective on Procore Technologies from $70.00 to $85.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $89.94.

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.