Procore Technologies, Inc. (NYSE:PCOR) Stake Raised by Sonoma Private Wealth LLC

Sonoma Private Wealth LLC boosted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 261.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,366 shares of the company's stock after purchasing an additional 14,002 shares during the period. Procore Technologies comprises approximately 2.3% of Sonoma Private Wealth LLC's investment portfolio, making the stock its 8th biggest holding. Sonoma Private Wealth LLC's holdings in Procore Technologies were worth $1,451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its position in Procore Technologies by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock valued at $1,199,000 after buying an additional 129 shares during the period. CIBC Asset Management Inc raised its holdings 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 during the period. Parkside Financial Bank & Trust grew its holdings in Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC increased its position in shares of Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after buying an additional 162 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after buying an additional 175 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

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Procore Technologies Stock Down 5.5 %

NYSE:PCOR traded down $4.19 during midday trading on Thursday, reaching $72.22. The company had a trading volume of 909,644 shares, compared to its average volume of 1,359,525. The stock's fifty day simple moving average is $78.06 and its 200-day simple moving average is $70.72. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of -100.30 and a beta of 0.85.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $297.72 million. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on PCOR shares. Barclays boosted their price target on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. BMO Capital Markets upped 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. KeyCorp boosted their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. DA Davidson increased their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Finally, Scotiabank boosted their target price on Procore Technologies from $70.00 to $85.00 and gave the stock a "sector outperform" rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and an average target price of $89.94.

Insider Activity at Procore Technologies

In other news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $17,480. This represents a 84.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the company's stock in a transaction 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 transaction, the director now owns 1,264,700 shares of the company's stock, valued at $93,107,214. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,953 shares of company stock valued at $7,924,469 over the last quarter. 29.00% of the stock is owned by insiders.

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.