Parnassus Investments LLC Boosts Position in Procore Technologies, Inc. (NYSE:PCOR)

Parnassus Investments LLC raised its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 19.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,574 shares of the company's stock after purchasing an additional 27,504 shares during the quarter. Parnassus Investments LLC owned approximately 0.11% of Procore Technologies worth $10,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of PCOR. GAMMA Investing LLC grew its stake in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company's stock valued at $25,000 after acquiring an additional 175 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Procore Technologies during the third quarter valued at $26,000. Signaturefd LLC boosted its stake in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company's stock valued at $42,000 after buying an additional 216 shares during the period. Rothschild Investment LLC purchased a new position in Procore Technologies during the second quarter worth about $51,000. Finally, International Assets Investment Management LLC increased its stake in Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company's stock worth $49,000 after acquiring an additional 789 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,993 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $1,359,806.02. Following the sale, the chief executive officer now directly owns 793,123 shares in the company, valued at approximately $46,905,294.22. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 8,974 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value of $521,030.44. Following the transaction, the director now directly owns 1,371,104 shares in the company, valued at approximately $79,606,298.24. The trade was a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,695 shares of company stock valued at $6,844,893 over the last ninety days. Company insiders own 29.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Procore Technologies from $63.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price target on shares of Procore Technologies from $90.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group raised their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a "hold" rating in a research report on Monday. JMP Securities cut their target price on shares of Procore Technologies from $82.00 to $75.00 and set a "market outperform" rating for the company in a research report on Thursday, October 31st. Finally, Macquarie reaffirmed a "neutral" rating and set a $70.00 price target on shares of Procore Technologies in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.25.

Procore Technologies Trading Up 1.4 %

Shares of Procore Technologies stock traded up $0.94 during trading on Tuesday, reaching $70.06. 1,427,233 shares of the stock were exchanged, compared to its average volume of 1,574,725. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of -140.08 and a beta of 0.71. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $83.35. The stock's fifty day moving average is $62.82 and its 200 day moving average is $63.78.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to analysts' expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, equities research analysts expect that Procore Technologies, Inc. will post -0.23 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.