Long Path Partners LP Boosts Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Long Path Partners LP raised its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 43.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 513,551 shares of the company's stock after buying an additional 155,501 shares during the period. Procore Technologies comprises about 12.5% of Long Path Partners LP's portfolio, making the stock its 2nd biggest position. Long Path Partners LP owned 0.35% of Procore Technologies worth $38,480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PCOR. Cinctive Capital Management LP acquired a new stake in shares of Procore Technologies during the 4th quarter worth approximately $824,000. Bryce Point Capital LLC purchased a new stake in Procore Technologies in the 4th quarter valued at about $1,751,000. Huntington National Bank lifted its holdings in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after acquiring an additional 404 shares during the period. Elwood Capital Partners LP purchased a new position in shares of Procore Technologies in the 4th quarter worth about $2,836,000. Finally, Geode Capital Management LLC grew its position in Procore Technologies by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,744,773 shares of the company's stock valued at $130,779,000 after buying an additional 28,341 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stifel Nicolaus lifted their price objective on Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Mizuho upped their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. JMP Securities lifted their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 18th. UBS Group boosted their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, KeyCorp lifted their target price on Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Four research 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $89.65.

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Insiders Place Their Bets

In other Procore Technologies news, CFO Howard Fu sold 8,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the sale, the chief financial officer now owns 156,188 shares of the company's stock, valued at $13,588,356. This represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares of the company's stock, valued at approximately $13,380,634.56. This trade represents a 6.92 % 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 three months. Insiders own 29.00% of the company's stock.

Procore Technologies Price Performance

NYSE PCOR traded up $0.14 during trading hours on Tuesday, reaching $58.28. 673,485 shares of the stock traded hands, compared to its average volume of 1,711,260. 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 $8.74 billion, a price-to-earnings ratio of -80.93 and a beta of 0.90. The stock has a 50 day simple moving average of $73.96 and a two-hundred day simple moving average of $72.42. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year 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) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. On average, analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.