Ieq Capital LLC Cuts Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Ieq Capital LLC lessened its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,897 shares of the company's stock after selling 4,018 shares during the period. Ieq Capital LLC owned about 0.16% of Procore Technologies worth $17,451,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PCOR. Chicago Partners Investment Group LLC boosted its holdings in Procore Technologies by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock worth $1,199,000 after buying an additional 129 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company's stock worth $259,000 after buying an additional 143 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in 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 buying an additional 162 shares during the last quarter. Tanager Wealth Management LLP boosted its holdings in shares of Procore Technologies by 1.3% during the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company's stock worth $787,000 after purchasing an additional 168 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

PCOR has been the topic of several recent research reports. Piper Sandler boosted 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. Barclays lifted their price target on shares of Procore Technologies from $84.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. BMO Capital Markets lifted their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. KeyCorp boosted their target price on Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Finally, Scotiabank boosted their target price on Procore Technologies from $70.00 to $85.00 and gave the company a "sector outperform" rating in a research report on Friday, November 22nd. Four investment 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. According to MarketBeat, Procore Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.94.

Insider Transactions at Procore Technologies

In related news, Director Kathryn Bueker sold 6,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $78.01, for a total transaction of $507,065.00. Following the completion of the transaction, the director now directly owns 23,932 shares of the company's stock, valued at $1,866,935.32. This represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $93,867.60. Following the transaction, the insider now directly owns 200 shares of the company's stock, valued at $17,480. This represents a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,811 shares of company stock worth $8,227,968. Company insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

NYSE PCOR traded down $0.78 during trading hours on Friday, hitting $82.28. The company had a trading volume of 1,628,367 shares, compared to its average volume of 1,542,598. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a market cap of $12.23 billion, a PE ratio of -114.27 and a beta of 0.84. The business has a 50 day moving average of $78.09 and a 200-day moving average of $69.37. 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 (NYSE:PCOR - Get Free Report) last announced 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). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. As a group, equities research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Procore Technologies Company 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.