Geode Capital Management LLC Raises Position in Procore Technologies, Inc. (NYSE:PCOR)

Geode Capital Management LLC increased its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,744,773 shares of the company's stock after buying an additional 28,341 shares during the period. Geode Capital Management LLC owned about 1.17% of Procore Technologies worth $130,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PCOR. Chicago Partners Investment Group LLC raised its stake in shares of Procore Technologies by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock worth $1,199,000 after acquiring an additional 129 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 147 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after purchasing an additional 162 shares in the last quarter. Versant Capital Management Inc increased its position in Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $27,000 after buying an additional 175 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Procore Technologies by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 4,438 shares of the company's stock valued at $333,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PCOR shares. JMP Securities raised their price target 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. Piper Sandler lifted their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Stifel Nicolaus lifted their price target on Procore Technologies from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price target on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, KeyCorp upped their target price on Procore Technologies from $85.00 to $96.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Four equities research 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $89.24.

Insider Buying and Selling

In other news, insider Benjamin C. Singer sold 1,500 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total value of $117,000.00. Following the completion of the sale, the insider now directly owns 83,039 shares of the company's stock, valued at approximately $6,477,042. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Connor Kevin J. O sold 7,700 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total value of $436,359.00. Following the transaction, the director now owns 1,208,284 shares in the company, valued at $68,473,454.28. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,176 shares of company stock worth $5,486,304 in the last ninety days. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Stock Down 0.4 %

Shares of Procore Technologies stock traded down $0.23 during trading on Monday, hitting $60.37. 82,191 shares of the stock were exchanged, compared to its average volume of 1,725,726. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of -83.84 and a beta of 0.90. The firm's 50-day moving average price is $71.63 and its 200 day moving average price is $72.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal 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.