JPMorgan Chase & Co. Acquires 304,396 Shares of Procore Technologies, Inc. (NYSE:PCOR)

JPMorgan Chase & Co. boosted its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 20.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,766,675 shares of the company's stock after purchasing an additional 304,396 shares during the period. JPMorgan Chase & Co. owned about 1.19% of Procore Technologies worth $132,377,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Diversified Trust Co increased its stake in Procore Technologies by 157.1% in the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company's stock worth $3,795,000 after buying an additional 30,948 shares in the last quarter. US Bancorp DE boosted its stake in Procore Technologies by 18.8% during the fourth quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after buying an additional 3,390 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Procore Technologies during the 4th quarter worth about $20,729,000. Barclays PLC boosted its position in shares of Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after buying an additional 22,734 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Procore Technologies in the 4th quarter valued at $56,000. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PCOR shares. Mizuho raised their price objective on Procore Technologies from $65.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. JMP Securities raised their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 18th. Macquarie lowered their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Robert W. Baird boosted their price target on Procore Technologies from $87.00 to $96.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Finally, Piper Sandler upped their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies has a consensus rating of "Moderate Buy" and an average target price of $89.65.

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Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 5,128 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $73.62, for a total value of $377,523.36. Following the transaction, the director now directly owns 1,264,700 shares in the company, valued at approximately $93,107,214. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were 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. The trade was a 84.30 % 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 over the last quarter. Company insiders own 29.00% of the company's stock.

Procore Technologies Price Performance

PCOR stock traded down $4.95 during trading on Friday, reaching $57.11. 2,503,925 shares of the company were exchanged, compared to its average volume of 1,714,895. The stock's 50 day moving average price is $74.39 and its 200 day moving average price is $72.44. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $8.56 billion, a P/E ratio of -79.32 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. As a group, analysts predict 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.