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

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

Several other hedge funds have also recently made changes to their positions in PCOR. Sellaronda Global Management LP bought a new stake in Procore Technologies in the 4th quarter valued at about $6,744,000. Renaissance Technologies LLC raised its position in shares of Procore Technologies by 1.9% in the fourth quarter. Renaissance Technologies LLC now owns 136,300 shares of the company's stock valued at $10,213,000 after purchasing an additional 2,500 shares during the period. FIL Ltd lifted its stake in shares of Procore Technologies by 4.0% during the 4th quarter. FIL Ltd now owns 2,171,975 shares of the company's stock valued at $162,746,000 after buying an additional 84,216 shares in the last quarter. Invesco Ltd. boosted its holdings in Procore Technologies by 72.6% in the 4th quarter. Invesco Ltd. now owns 1,361,823 shares of the company's stock worth $102,041,000 after buying an additional 572,900 shares during the period. Finally, Bank of Montreal Can purchased a new position in Procore Technologies in the 4th quarter valued at approximately $794,000. 81.10% of the stock is currently owned by institutional investors.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 6,410 shares of the company's 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 completion of the sale, the director now directly owns 1,244,188 shares in the company, valued at $96,213,058.04. This represents a 0.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Howard Fu sold 8,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was 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 directly owns 156,188 shares in the company, 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. Insiders sold 65,482 shares of company stock worth $4,952,759 in the last ninety days. 29.00% of the stock is owned by company insiders.

Procore Technologies Price Performance

Shares of PCOR stock traded up $2.80 during trading hours on Thursday, hitting $63.08. 233,408 shares of the company's stock were exchanged, compared to its average volume of 1,436,947. The company has a market capitalization of $9.46 billion, a PE ratio of -87.60 and a beta of 0.90. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. 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 $68.73 and its 200-day simple moving average is $72.09.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $302.05 million during the quarter, compared to analysts' expectations of $297.72 million. On average, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PCOR shares. DA Davidson decreased their price objective on Procore Technologies from $80.00 to $60.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Piper Sandler lowered their price target on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Barclays cut their price target on shares of Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Canaccord Genuity Group upped their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and an average target price of $82.53.

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.