Russell Investments Group Ltd. Has $11.86 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Russell Investments Group Ltd. trimmed its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 29.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 157,926 shares of the company's stock after selling 66,340 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Procore Technologies worth $11,863,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc lifted 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 raised 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 lifted its stake in 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 acquiring an additional 162 shares in the last quarter. Huntington National Bank boosted its position in Procore Technologies by 161.6% during the 4th 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 bought a new position in shares of Procore Technologies during the 4th quarter worth approximately $53,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

PCOR has been the topic of a number of recent research reports. Jefferies Financial Group lowered their target price on Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. JMP Securities upped their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Tuesday, February 18th. Macquarie cut their price objective on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Barclays lowered their target price on shares of Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $86.88.

Insider Activity

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the transaction, the executive now owns 161,368 shares of the company's stock, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 7,700 shares of the business's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total value of $436,359.00. Following the transaction, the director now directly owns 1,208,284 shares of the company's stock, valued at approximately $68,473,454.28. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 72,176 shares of company stock worth $5,486,304. 29.00% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

Procore Technologies stock traded down $0.11 during midday trading on Tuesday, hitting $60.42. The company's stock had a trading volume of 507,622 shares, compared to its average volume of 1,725,312. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $9.06 billion, a price-to-earnings ratio of -83.92 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a 50-day moving average price of $71.30 and a two-hundred day moving average price of $72.32.

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 for the quarter, missing analysts' consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current 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.