Procore Technologies, Inc. (NYSE:PCOR) Shares Acquired by ShawSpring Partners LLC

ShawSpring Partners LLC increased its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 493.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,438,082 shares of the company's stock after purchasing an additional 1,195,675 shares during the quarter. Procore Technologies accounts for approximately 11.2% of ShawSpring Partners LLC's holdings, making the stock its 4th biggest position. ShawSpring Partners LLC owned approximately 0.97% of Procore Technologies worth $88,758,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PCOR. Advisors Asset Management Inc. boosted its position in Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company's stock worth $103,000 after purchasing an additional 260 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in Procore Technologies by 1.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 29,152 shares of the company's stock valued at $2,395,000 after acquiring an additional 495 shares in the last quarter. California State Teachers Retirement System increased its holdings in Procore Technologies by 3.0% during the 1st quarter. California State Teachers Retirement System now owns 91,995 shares of the company's stock valued at $7,559,000 after acquiring an additional 2,690 shares in the last quarter. Tidal Investments LLC purchased a new position in Procore Technologies in the 1st quarter valued at about $248,000. Finally, Comerica Bank lifted its stake in shares of Procore Technologies by 3.2% during the 1st quarter. Comerica Bank now owns 53,227 shares of the company's stock worth $4,374,000 after purchasing an additional 1,663 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Price Performance

Procore Technologies stock traded up $1.18 during midday trading on Wednesday, hitting $81.44. The company's stock had a trading volume of 1,447,749 shares, compared to its average volume of 1,607,593. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $12.11 billion, a PE ratio of -160.56 and a beta of 0.71. The stock's 50-day moving average price is $64.64 and its 200-day moving average price is $64.00.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Analysts anticipate that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PCOR shares. JMP Securities dropped their target price on Procore Technologies from $82.00 to $75.00 and set a "market outperform" rating for the company in a research note on Thursday, October 31st. Barclays raised their target price on Procore Technologies from $66.00 to $78.00 and gave the company an "equal weight" rating in a report on Friday, November 22nd. KeyCorp increased their price target on Procore Technologies from $68.00 to $85.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. The Goldman Sachs Group lifted their price target on Procore Technologies from $73.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Finally, Macquarie reaffirmed a "neutral" rating and set a $70.00 price objective on shares of Procore Technologies in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating, eleven have issued 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 a consensus target price of $79.25.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 8,974 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total transaction of $521,030.44. Following the completion of the sale, the director now directly owns 1,371,104 shares in the company, valued at approximately $79,606,298.24. This trade represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the completion of the transaction, the senior vice president now owns 75,120 shares in the company, valued at approximately $5,314,740. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,053 shares of company stock worth $7,426,909 in the last three months. 29.00% of the stock is currently owned by insiders.

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.