Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 10.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,716,432 shares of the company's stock after acquiring an additional 168,769 shares during the quarter. Geode Capital Management LLC owned approximately 1.15% of Procore Technologies worth $105,967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bullseye Asset Management LLC lifted its position in shares of Procore Technologies by 50.0% in the 3rd quarter. Bullseye Asset Management LLC now owns 14,993 shares of the company's stock worth $925,000 after purchasing an additional 5,000 shares during the period. M&T Bank Corp bought a new position in Procore Technologies in the third quarter worth approximately $250,000. Barclays PLC raised its stake in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after buying an additional 22,734 shares in the last quarter. Meritage Group LP lifted its holdings in Procore Technologies by 66.6% during 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 period. Finally, XTX Topco Ltd boosted its position in Procore Technologies by 860.0% during the 3rd quarter. XTX Topco Ltd now owns 35,903 shares of the company's stock valued at $2,216,000 after acquiring an additional 32,163 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PCOR. TD Cowen upped their price objective on Procore Technologies from $70.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Canaccord Genuity Group boosted their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Scotiabank raised their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the company a "sector outperform" rating in a report on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Finally, DA Davidson increased their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $84.24.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 5,128 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.07, for a total transaction of $318,294.96. Following the sale, the director now directly owns 1,355,720 shares of the company's stock, valued at $84,149,540.40. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the transaction, the chief executive officer now directly owns 770,458 shares of the company's stock, valued at $54,979,882.88. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,193 shares of company stock valued at $10,364,826 over the last 90 days. Insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

Procore Technologies stock traded down $0.27 during trading hours on Thursday, hitting $75.48. 1,776,919 shares of the stock traded hands, compared to its average volume of 1,662,034. The firm's 50 day moving average price is $71.89 and its 200-day moving average price is $65.49. 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 capitalization of $11.22 billion, a price-to-earnings ratio of -150.96 and a beta of 0.82. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $86.67.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts' consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. As a group, equities analysts expect that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Procore Technologies Profile

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.