Procore Technologies, Inc. (NYSE:PCOR) is ShawSpring Partners LLC's 2nd Largest Position

ShawSpring Partners LLC trimmed its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,197,199 shares of the company's stock after selling 240,883 shares during the period. Procore Technologies comprises approximately 11.9% of ShawSpring Partners LLC's investment portfolio, making the stock its 2nd biggest position. ShawSpring Partners LLC owned approximately 0.81% of Procore Technologies worth $89,706,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PCOR. Versant Capital Management Inc lifted its holdings in 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 buying an additional 175 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Procore Technologies by 61.3% during the fourth 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 grew its holdings in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after buying an additional 162 shares in the last quarter. Huntington National Bank lifted its stake in Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after acquiring an additional 404 shares in the last quarter. Finally, Hilltop National Bank bought a new position in shares of Procore Technologies during the fourth quarter valued at about $53,000. 81.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Procore Technologies

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction 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 completion of the sale, the executive now owns 161,368 shares of the company's stock, valued at approximately $13,380,634.56. This represents a 6.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $17,480. The trade was a 84.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,982 shares of company stock worth $5,069,759 over the last 90 days. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Price Performance

Shares of PCOR stock traded down $1.50 during trading on Friday, hitting $58.37. The company had a trading volume of 1,030,883 shares, compared to its average volume of 1,731,829. The stock's 50-day moving average is $69.99 and its two-hundred day moving average is $72.12. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of -81.06 and a beta of 0.90. 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, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly 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 company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. As a group, analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on PCOR shares. UBS Group upped their price objective on Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Mizuho dropped their price objective on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday. Jefferies Financial Group reduced their target price 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 dropped their price target on shares of Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Finally, KeyCorp lifted their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.88.

Procore Technologies Company 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.