Price T Rowe Associates Inc. MD Decreases Position in Procore Technologies, Inc. (NYSE:PCOR)

Price T Rowe Associates Inc. MD lowered its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 32.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,468,417 shares of the company's stock after selling 1,648,913 shares during the period. Price T Rowe Associates Inc. MD owned 2.33% of Procore Technologies worth $259,890,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc increased its holdings in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of Procore Technologies by 37.8% in the 4th 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 during the period. Huntington National Bank raised its position in shares of 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 last quarter. Finally, Hilltop National Bank acquired a new position in shares of Procore Technologies during the fourth quarter valued at $53,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCOR has been the subject of several recent research reports. Piper Sandler dropped their price objective on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Barclays reduced their price objective on shares of Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group cut their price target on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. KeyCorp reduced their target price on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, BMO Capital Markets decreased their price objective on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.18.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $77.33, for a total transaction of $495,685.30. Following the transaction, the director now directly owns 1,244,188 shares of the company's stock, valued at $96,213,058.04. The trade was a 0.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Fu sold 8,000 shares of the stock in a transaction dated 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 approximately $13,588,356. This trade represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,962 shares of company stock worth $5,041,588. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Trading Up 0.5 %

Procore Technologies stock traded up $0.32 during trading hours on Tuesday, hitting $64.00. The stock had a trading volume of 990,966 shares, compared to its average volume of 1,733,260. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of -88.89 and a beta of 0.90. The business's 50 day simple moving average is $67.29 and its 200-day simple moving average is $72.32. 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, Inc. has a one year low of $49.46 and a one year high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. On average, equities analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.