Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Sycomore Asset Management

Sycomore Asset Management decreased its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 29.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,373 shares of the company's stock after selling 64,764 shares during the quarter. Procore Technologies makes up 1.5% of Sycomore Asset Management's portfolio, making the stock its 21st biggest position. Sycomore Asset Management owned approximately 0.10% of Procore Technologies worth $11,642,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanderbilt University boosted its position in shares of Procore Technologies by 5.3% during the fourth quarter. Vanderbilt University now owns 49,875 shares of the company's stock valued at $3,737,000 after buying an additional 2,504 shares during the last quarter. Choreo LLC purchased a new position in shares of Procore Technologies during the 4th quarter worth $247,000. Conestoga Capital Advisors LLC purchased a new position in shares of Procore Technologies during the 4th quarter worth $15,544,000. Jennison Associates LLC boosted its stake in shares of Procore Technologies by 33.2% during the 4th quarter. Jennison Associates LLC now owns 345,881 shares of the company's stock worth $25,917,000 after acquiring an additional 86,277 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Procore Technologies by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock valued at $1,199,000 after purchasing an additional 129 shares during the period. Institutional investors own 81.10% of the company's stock.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 2,668 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $190,388.48. Following the sale, the senior vice president now directly owns 72,605 shares of the company's stock, valued at $5,181,092.80. This represents a 3.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $76.77, for a total transaction of $492,095.70. Following the completion of the sale, the director now directly owns 1,231,368 shares in the company, valued at $94,532,121.36. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,656 shares of company stock worth $8,776,297. 29.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on PCOR. Barclays raised their price objective on shares of Procore Technologies from $66.00 to $78.00 and gave the company an "equal weight" rating in a research report on Friday, November 22nd. Scotiabank lifted their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the company a "sector outperform" rating in a report on Friday, November 22nd. Stifel Nicolaus lifted their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. TD Cowen lifted their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Finally, Canaccord Genuity Group boosted their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $86.00.

Procore Technologies Stock Performance

Procore Technologies stock traded up $0.84 during mid-day trading on Thursday, reaching $75.13. 2,167,823 shares of the company traded hands, compared to its average volume of 1,119,663. 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, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of -150.26 and a beta of 0.84. The firm's fifty day moving average is $77.54 and its two-hundred day moving average is $68.50.

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 analysts' consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.22 earnings per share for the current fiscal year.

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.