Capital World Investors Raises Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Capital World Investors raised its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 453.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,118,962 shares of the company's stock after purchasing an additional 2,555,612 shares during the quarter. Capital World Investors owned about 2.10% of Procore Technologies worth $233,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Diversified Trust Co grew its holdings in Procore Technologies by 157.1% during the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company's stock worth $3,795,000 after acquiring an additional 30,948 shares in the last quarter. US Bancorp DE lifted its holdings in Procore Technologies by 18.8% during the 4th quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after buying an additional 3,390 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Procore Technologies in the 4th quarter valued at approximately $20,729,000. Barclays PLC grew its position in shares of Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after buying an additional 22,734 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Procore Technologies during the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 7,700 shares of Procore Technologies stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total transaction of $436,359.00. Following the transaction, the director now owns 1,208,284 shares of the company's stock, valued at $68,473,454.28. This trade represents a 0.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Fu sold 1,216 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $61.34, for a total value of $74,589.44. Following the sale, the chief financial officer now directly owns 208,184 shares of the company's stock, valued at $12,770,006.56. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,482 shares of company stock worth $4,952,759. Insiders own 29.00% of the company's stock.

Procore Technologies Stock Up 1.3 %

Shares of NYSE:PCOR traded up $0.81 during midday trading on Friday, hitting $63.80. The stock had a trading volume of 1,080,908 shares, compared to its average volume of 1,735,548. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92. The business's 50-day simple moving average is $68.24 and its 200-day simple moving average is $72.12. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $9.57 billion, a P/E ratio of -88.61 and a beta of 0.90.

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 (EPS) 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 company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PCOR. JMP Securities upped their target price 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, February 18th. BMO Capital Markets decreased their price target on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday. Barclays decreased their target price on shares of Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Jefferies Financial Group lowered their price objective on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, DA Davidson decreased their price target on Procore Technologies from $80.00 to $60.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.18.

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.