Oppenheimer Asset Management Inc. Raises Stake in Procore Technologies, Inc. (NYSE:PCOR)

Oppenheimer Asset Management Inc. raised its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 18.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 69,969 shares of the company's stock after purchasing an additional 11,022 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Procore Technologies were worth $5,243,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co boosted its position in shares of Procore Technologies by 157.1% during the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company's stock valued at $3,795,000 after buying an additional 30,948 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Procore Technologies by 39.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company's stock worth $59,635,000 after acquiring an additional 272,030 shares in the last quarter. Barclays PLC raised its holdings in shares of Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after purchasing an additional 22,734 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its position in shares of Procore Technologies by 30.2% during the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company's stock valued at $7,825,000 after purchasing an additional 29,431 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in Procore Technologies by 804.3% during the third quarter. Pathstone Holdings LLC now owns 145,802 shares of the company's stock worth $8,999,000 after purchasing an additional 129,679 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

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Procore Technologies Stock Performance

Shares of NYSE:PCOR traded up $1.65 during trading on Tuesday, hitting $75.91. 1,052,009 shares of the company were exchanged, compared to its average volume of 1,363,002. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The stock has a 50 day moving average of $78.14 and a 200 day moving average of $70.56. 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 company has a market cap of $11.38 billion, a PE ratio of -105.34 and a beta of 0.84.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its 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 company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. As a group, equities research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity at Procore Technologies

In other news, CFO Howard Fu sold 8,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the transaction, the chief financial officer now owns 156,188 shares of the company's stock, valued at approximately $13,588,356. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $73.62, for a total transaction of $377,523.36. Following the completion of the sale, the director now directly owns 1,264,700 shares in the company, valued at $93,107,214. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,311 shares of company stock valued at $7,720,903. Corporate insiders own 29.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Piper Sandler increased their price target on Procore Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. TD Cowen boosted their price objective on Procore Technologies from $70.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Barclays raised their target price on Procore Technologies from $84.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Finally, JMP Securities boosted 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. 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.94.

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.