Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 147.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,399 shares of the company's stock after acquiring an additional 13,935 shares during the period. LPL Financial LLC's holdings in Procore Technologies were worth $1,753,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. 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 buying an additional 1,425,967 shares during the period. Principal Financial Group Inc. grew its holdings in Procore Technologies by 29,376.1% in the fourth 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 during the period. Geode Capital Management LLC increased its stake in Procore Technologies by 10.9% in the third quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company's stock valued at $105,967,000 after purchasing an additional 168,769 shares in the last quarter. GW&K Investment Management LLC raised its holdings in shares of Procore Technologies by 0.8% during the fourth quarter. GW&K Investment Management LLC now owns 832,126 shares of the company's stock valued at $62,351,000 after purchasing an additional 6,582 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Procore Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 700,857 shares of the company's stock worth $52,515,000 after purchasing an additional 18,554 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PCOR shares. Macquarie lowered their target price on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Mizuho cut their price target on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday. Canaccord Genuity Group raised their price objective 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. UBS Group boosted their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, JMP Securities raised their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.88.

Procore Technologies Stock Performance

NYSE:PCOR traded down $1.50 during trading hours on Friday, reaching $58.37. The company had a trading volume of 1,030,883 shares, compared to its average volume of 1,733,708. The business's 50 day moving average price is $69.99 and its 200-day moving average price is $72.12. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The firm has a market cap of $8.75 billion, a PE ratio of -81.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

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). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In related news, CFO Howard Fu sold 1,216 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $61.34, for a total transaction of $74,589.44. Following the sale, the chief financial officer now owns 208,184 shares of the company's stock, valued at approximately $12,770,006.56. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin C. Singer sold 1,500 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the insider now owns 83,039 shares of the company's stock, valued at $6,477,042. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,982 shares of company stock valued at $5,069,759 over the last quarter. 29.00% of the stock is owned by company insiders.

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.