Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC decreased its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 160,761 shares of the company's stock after selling 4,813 shares during the quarter. Parnassus Investments LLC owned approximately 0.11% of Procore Technologies worth $12,046,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its stake 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 purchasing an additional 129 shares in the last quarter. CIBC Asset Management Inc lifted its stake 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 purchasing an additional 143 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its stake 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 purchasing an additional 162 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Procore Technologies by 92.1% in 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 in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

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Wall Street Analyst Weigh In

PCOR has been the topic of several research analyst reports. Mizuho boosted their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. BMO Capital Markets boosted their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Macquarie reduced their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Jefferies Financial Group upgraded shares of Procore Technologies from a "hold" rating to a "buy" rating and boosted their target price for the stock from $80.00 to $100.00 in a report on Monday, January 6th. Finally, Canaccord Genuity Group boosted their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.24.

Insiders Place Their Bets

In other news, CFO Howard Fu sold 1,190 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.00, for a total value of $79,730.00. Following the sale, the chief financial officer now owns 146,160 shares in the company, valued at $9,792,720. This represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the sale, the insider now owns 200 shares in the company, valued at $17,480. The trade was a 84.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,657 shares of company stock worth $5,442,199 in the last three months. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Trading Up 1.8 %

NYSE:PCOR traded up $1.26 during mid-day trading on Wednesday, hitting $69.87. 834,205 shares of the stock traded hands, compared to its average volume of 1,668,992. 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 stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of -97.05 and a beta of 0.85. The firm's 50 day moving average is $76.74 and its two-hundred day moving average is $71.37. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92.

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 analysts' consensus estimates of $0.11 by ($0.46). The company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, equities research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share 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.