535,699 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by Peregrine Capital Management LLC

Peregrine Capital Management LLC purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 535,699 shares of the company's stock, valued at approximately $40,140,000. Procore Technologies accounts for about 1.2% of Peregrine Capital Management LLC's portfolio, making the stock its 20th biggest position. Peregrine Capital Management LLC owned about 0.36% of Procore Technologies at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PCOR. Assenagon Asset Management S.A. grew its position in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock worth $214,377,000 after purchasing an additional 1,425,967 shares in the last quarter. Meritage Group LP grew its position in shares of Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company's stock worth $169,453,000 after purchasing an additional 1,098,019 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Procore Technologies by 29,376.1% during the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock worth $200,810,000 after purchasing an additional 2,670,872 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Procore Technologies by 128.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company's stock worth $142,267,000 after purchasing an additional 1,297,151 shares in the last quarter. Finally, Holocene Advisors LP grew its position in shares of Procore Technologies by 1.1% during the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company's stock worth $115,623,000 after purchasing an additional 21,234 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

PCOR has been the topic of a number of analyst reports. UBS Group increased their target price 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. JMP Securities increased their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Tuesday. Barclays increased their price objective on shares of Procore Technologies from $84.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. DA Davidson raised their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Finally, BMO Capital Markets raised their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.94.

Procore Technologies Stock Performance

NYSE PCOR traded down $0.78 during trading hours on Friday, hitting $82.28. 1,628,367 shares of the company's stock traded hands, compared to its average volume of 1,377,505. The business's fifty day moving average price is $78.09 and its two-hundred day moving average price is $69.37. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $12.23 billion, a P/E ratio of -114.27 and a beta of 0.84. 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 quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $302.05 million for the quarter, compared to analysts' expectations of $297.72 million. Equities research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Buying and Selling

In related news, CFO Howard Fu sold 8,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the sale, the chief financial officer now directly owns 156,188 shares of the company's stock, valued at $13,588,356. This represents a 4.87 % 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, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the sale, the insider now directly owns 84,539 shares of the company's stock, valued at approximately $6,440,181.02. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,811 shares of company stock worth $8,227,968. Insiders own 29.00% of the company's stock.

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.