Invesco Ltd. Acquires 572,900 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Invesco Ltd. increased its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 72.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,361,823 shares of the company's stock after buying an additional 572,900 shares during the period. Invesco Ltd. owned about 0.92% of Procore Technologies worth $102,041,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc raised its stake 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 valued at $27,000 after purchasing an additional 175 shares in the last quarter. Parkside Financial Bank & Trust raised its position 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 worth $29,000 after buying an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its stake 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 acquiring an additional 162 shares during the period. Huntington National Bank boosted its holdings in shares of Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after acquiring an additional 404 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Procore Technologies during the fourth quarter valued at approximately $53,000. 81.10% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Procore Technologies

In other news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 200 shares of the company's stock, valued at approximately $17,480. This represents a 84.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were 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 owns 83,039 shares in the company, valued at $6,477,042. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,176 shares of company stock worth $5,486,304. Insiders own 29.00% of the company's stock.

Procore Technologies Stock Up 0.2 %

Shares of Procore Technologies stock traded up $0.11 during trading on Tuesday, hitting $60.64. 869,047 shares of the stock traded hands, compared to its average volume of 1,728,707. The company has a fifty day moving average price of $70.99 and a two-hundred day moving average price of $72.24. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The stock has a market cap of $9.09 billion, a P/E ratio of -84.21 and a beta of 0.90. 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 quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS 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. Equities research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the subject of a number of research reports. Jefferies Financial Group decreased their price target on Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, March 31st. KeyCorp boosted their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. DA Davidson reduced their price objective on shares of Procore Technologies from $80.00 to $60.00 and set a "neutral" rating for the company in a research report on Monday. Mizuho dropped their target price on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, UBS Group lifted their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.88.

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.