Crescent Park Management L.P. Sells 11,222 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Crescent Park Management L.P. cut its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,434 shares of the company's stock after selling 11,222 shares during the period. Procore Technologies makes up about 5.3% of Crescent Park Management L.P.'s portfolio, making the stock its 7th biggest holding. Crescent Park Management L.P. owned about 0.12% of Procore Technologies worth $13,895,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PCOR. Vanguard Group Inc. increased its stake in Procore Technologies by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company's stock worth $891,692,000 after acquiring an additional 838,925 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock valued at $214,377,000 after buying an additional 1,425,967 shares during the period. Meritage Group LP lifted its position in Procore Technologies by 66.6% in the third quarter. Meritage Group LP now owns 2,745,504 shares of the company's stock worth $169,453,000 after buying an additional 1,098,019 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock worth $200,810,000 after buying an additional 2,670,872 shares during the period. Finally, Janus Henderson Group PLC increased its position in Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company's stock valued at $142,267,000 after acquiring an additional 1,297,151 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently commented on PCOR. KeyCorp lifted their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Canaccord Genuity Group boosted their target price on Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Macquarie decreased their price target on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Piper Sandler increased their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their target price 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 equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $89.65.

Procore Technologies Stock Down 0.5 %

NYSE PCOR traded down $0.28 on Monday, hitting $57.05. The stock had a trading volume of 776,326 shares, compared to its average volume of 1,415,891. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The business's fifty day moving average price is $74.39 and its 200 day moving average price is $72.44. 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 stock has a market cap of $8.55 billion, a price-to-earnings ratio of -79.25 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced 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 business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the transaction, the executive now directly owns 161,368 shares in the company, valued at approximately $13,380,634.56. This trade represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Howard Fu sold 1,447 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $68.79, for a total value of $99,539.13. Following the completion of the sale, the chief financial officer now owns 144,713 shares in the company, valued at approximately $9,954,807.27. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,604 shares of company stock valued at $5,427,468. Insiders own 29.00% of the company's stock.

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.