New York State Common Retirement Fund Boosts Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

New York State Common Retirement Fund grew its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 428,956 shares of the company's stock after purchasing an additional 16,703 shares during the period. New York State Common Retirement Fund owned about 0.29% of Procore Technologies worth $32,142,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC grew its position in 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 purchasing an additional 162 shares in the last quarter. Hilltop National Bank bought a new position in Procore Technologies in the fourth quarter valued at $53,000. GAMMA Investing LLC grew its position in Procore Technologies by 84.7% in the fourth quarter. GAMMA Investing LLC now owns 746 shares of the company's stock valued at $56,000 after purchasing an additional 342 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company's stock valued at $49,000 after acquiring an additional 789 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Stock Down 0.9 %

Procore Technologies stock traded down $0.78 during midday trading on Friday, hitting $82.28. 1,628,367 shares of the stock were exchanged, compared to its average volume of 1,377,505. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of -114.27 and a beta of 0.84. The business's 50-day moving average price is $78.02 and its 200-day moving average price is $69.17. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million during 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, research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PCOR shares. Jefferies Financial Group raised shares of Procore Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the company from $80.00 to $100.00 in a research report on Monday, January 6th. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. DA Davidson lifted their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Finally, UBS Group lifted their price objective on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Four investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.94.

Insider Activity at Procore Technologies

In related news, Director Kathryn Bueker sold 6,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $78.01, for a total value of $507,065.00. Following the completion of the transaction, the director now directly owns 23,932 shares in the company, valued at $1,866,935.32. This trade represents a 21.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction dated 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 transaction, the insider now owns 200 shares of the company's stock, valued at approximately $17,480. The trade was a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,874 shares of company stock worth $5,956,995 in the last three months. 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.