Gavilan Investment Partners LLC Has $22.10 Million Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Gavilan Investment Partners LLC raised its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 295,000 shares of the company's stock after acquiring an additional 55,000 shares during the quarter. Procore Technologies makes up about 6.1% of Gavilan Investment Partners LLC's portfolio, making the stock its 9th largest holding. Gavilan Investment Partners LLC owned about 0.20% of Procore Technologies worth $22,104,000 at the end of the most recent quarter.

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

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Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Mizuho raised their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. Barclays boosted their price objective on Procore Technologies from $84.00 to $90.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Jefferies Financial Group cut their target price on Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Canaccord Genuity Group upped their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, JMP Securities upped their target price on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a report on Tuesday, February 18th. Four 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.24.

Insider Activity

In related news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 69,604 shares of company stock valued at $5,427,468 in the last three months. Company insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

Procore Technologies stock traded down $1.02 during mid-day trading on Friday, reaching $59.72. 525,247 shares of the company's stock were exchanged, compared to its average volume of 1,723,099. The firm has a market capitalization of $8.95 billion, a PE ratio of -82.83 and a beta of 0.90. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The business's fifty day simple moving average is $71.97 and its 200 day simple moving average is $72.26. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92.

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 return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $302.05 million during the quarter, compared to analysts' expectations of $297.72 million. On average, sell-side analysts expect 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.