Sellaronda Global Management LP Acquires New Position in Procore Technologies, Inc. (NYSE:PCOR)

Sellaronda Global Management LP bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 90,000 shares of the company's stock, valued at approximately $6,744,000. Procore Technologies accounts for approximately 6.8% of Sellaronda Global Management LP's portfolio, making the stock its 7th biggest holding. Sellaronda Global Management LP owned approximately 0.06% of Procore Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in shares of Procore Technologies by 1.9% during the 4th quarter. Renaissance Technologies LLC now owns 136,300 shares of the company's stock worth $10,213,000 after buying an additional 2,500 shares in the last quarter. FIL Ltd increased its holdings in Procore Technologies by 4.0% during the fourth 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 during the period. Invesco Ltd. raised its stake in Procore Technologies by 72.6% in the fourth 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 in the last quarter. Bank of Montreal Can purchased a new stake in Procore Technologies during the fourth quarter worth $794,000. Finally, Aster Capital Management DIFC Ltd boosted its position in Procore Technologies by 181.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock valued at $63,000 after acquiring an additional 544 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

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Insiders Place Their Bets

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $82.92, for a total value of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares in the company, valued at approximately $13,380,634.56. This represents a 6.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 7,700 shares of Procore Technologies stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total transaction of $436,359.00. Following the completion of the sale, the director now owns 1,208,284 shares of the company's stock, valued at $68,473,454.28. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,304 shares of company stock worth $5,863,827. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

Procore Technologies stock traded down $0.24 during trading hours on Friday, hitting $60.50. 1,305,869 shares of the stock traded hands, compared to its average volume of 1,728,632. 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 1 year low of $49.46 and a 1 year high of $88.92. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of -84.03 and a beta of 0.90. The firm's 50 day moving average price is $71.63 and its 200-day moving average price is $72.26.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly 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). The business had revenue of $302.05 million during the quarter, compared to analysts' expectations 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, equities analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the subject of several recent research reports. Piper Sandler boosted their price target on Procore Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. UBS Group boosted their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, February 14th. KeyCorp raised their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Finally, Macquarie decreased their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Procore Technologies has an average rating of "Moderate Buy" and an average price target of $89.24.

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.