Raymond James Financial Inc. Purchases New Shares in Procore Technologies, Inc. (NYSE:PCOR)

Raymond James Financial Inc. acquired a new position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 276,641 shares of the company's stock, valued at approximately $20,729,000. Raymond James Financial Inc. owned about 0.19% of Procore Technologies at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PCOR. Diversified Trust Co boosted its stake in Procore Technologies by 157.1% in the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company's stock worth $3,795,000 after buying an additional 30,948 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Procore Technologies by 39.2% in the third quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company's stock worth $59,635,000 after buying an additional 272,030 shares in the last quarter. US Bancorp DE boosted its stake in Procore Technologies by 18.8% in the fourth 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 in the last quarter. Barclays PLC boosted its stake in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after buying an additional 22,734 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Procore Technologies in the fourth quarter worth approximately $56,000. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PCOR. TD Cowen increased their price objective on Procore Technologies from $70.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. BMO Capital Markets increased their price objective on Procore Technologies from $71.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. Barclays increased their price objective on Procore Technologies from $84.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Jefferies Financial Group raised Procore Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $80.00 to $100.00 in a research note on Monday, January 6th. Finally, Macquarie dropped their price objective on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Four 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. Based on data from MarketBeat, Procore Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.24.

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Insider Activity at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the completion of the transaction, the executive now directly owns 161,368 shares in the company, valued at $13,380,634.56. This represents a 6.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Howard Fu sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the sale, the chief financial officer now directly owns 156,188 shares in the company, valued at $13,588,356. This trade represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,657 shares of company stock worth $5,442,199. 29.00% of the stock is owned by company insiders.

Procore Technologies Stock Performance

Shares of Procore Technologies stock traded down $0.32 during trading hours on Thursday, reaching $69.50. 1,033,734 shares of the stock traded hands, compared to its average volume of 1,670,469. The company has a 50 day moving average price of $76.61 and a 200 day moving average price of $71.36. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of -96.52 and a beta of 0.85. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. 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 released 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). The firm had revenue of $302.05 million for 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, equities research analysts expect that Procore Technologies, Inc. will post -0.15 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.