Federated Hermes Inc. Has $15.62 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

Federated Hermes Inc. lessened its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 37.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 208,462 shares of the company's stock after selling 123,147 shares during the quarter. Federated Hermes Inc. owned about 0.14% of Procore Technologies worth $15,620,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PCOR. Versant Capital Management Inc grew its position in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after buying an additional 162 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after buying an additional 404 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Procore Technologies in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 81.10% of the company's stock.

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Procore Technologies Trading Up 1.3 %

NYSE:PCOR traded up $0.76 on Tuesday, hitting $61.29. 328,738 shares of the stock were exchanged, compared to its average volume of 1,724,488. 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 52 week low of $49.46 and a 52 week high of $88.92. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of -85.10 and a beta of 0.90. The company's 50-day moving average price is $71.30 and its 200 day moving average price is $72.32.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. On average, equities research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $82.92, for a total value of $995,040.00. Following the transaction, the executive now owns 161,368 shares of the company's stock, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares of the company's stock, valued at approximately $17,480. This trade represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,176 shares of company stock worth $5,486,304. 29.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on PCOR shares. Mizuho cut their target price on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday. Stifel Nicolaus raised their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Macquarie cut their target price on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. DA Davidson lowered 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. Finally, JMP Securities increased their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Procore Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $86.88.

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.