TFJ Management LLC Acquires Shares of 70,271 Procore Technologies, Inc. (NYSE:PCOR)

TFJ Management LLC purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,271 shares of the company's stock, valued at approximately $5,265,000. Procore Technologies comprises 4.7% of TFJ Management LLC's investment portfolio, making the stock its 9th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCOR. Principal Financial Group Inc. boosted its stake in shares of Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after buying an additional 2,670,872 shares in the last quarter. Capital World Investors lifted its holdings in Procore Technologies by 453.6% in the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company's stock valued at $233,704,000 after acquiring an additional 2,555,612 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Procore Technologies during the 4th quarter worth $131,840,000. Assenagon Asset Management S.A. grew its stake in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock worth $214,377,000 after purchasing an additional 1,425,967 shares during the period. Finally, Champlain Investment Partners LLC purchased a new position in shares of Procore Technologies in the 4th quarter valued at about $105,747,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Trading Up 4.4 %

NYSE:PCOR traded up $2.65 during mid-day trading on Thursday, reaching $62.93. The company's stock had a trading volume of 1,730,008 shares, compared to its average volume of 1,734,959. 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 stock has a market cap of $9.43 billion, a P/E ratio of -87.40 and a beta of 0.90. The company's fifty day simple moving average is $68.73 and its two-hundred day simple moving average is $72.09. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $297.72 million. On average, equities analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity at Procore Technologies

In other news, Director Connor Kevin J. O sold 7,700 shares of the stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total value 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 represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were 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 directly owns 200 shares in the company, valued at approximately $17,480. This represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,482 shares of company stock worth $4,952,759. 29.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PCOR has been the topic of several recent analyst reports. Piper Sandler lowered their target price on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a research report on Wednesday. Scotiabank lowered their price target on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a report on Thursday. DA Davidson reduced their price objective on Procore Technologies from $80.00 to $60.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Mizuho lowered their target price on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Canaccord Genuity Group lifted their price target on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.18.

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.