Tidal Investments LLC Buys 12,346 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Tidal Investments LLC increased its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 237.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,538 shares of the company's stock after acquiring an additional 12,346 shares during the quarter. Tidal Investments LLC's holdings in Procore Technologies were worth $1,082,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Dragoneer Investment Group LLC increased its holdings in shares of Procore Technologies by 254.0% during the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company's stock valued at $148,762,000 after purchasing an additional 1,609,607 shares during the period. Wasatch Advisors LP increased its stake in Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company's stock valued at $97,599,000 after buying an additional 1,575,534 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Procore Technologies during the 3rd quarter worth about $88,572,000. XN LP lifted its stake in shares of Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company's stock worth $186,215,000 after acquiring an additional 1,411,812 shares during the period. Finally, PointState Capital LP acquired a new stake in Procore Technologies in the third quarter worth approximately $81,306,000. Institutional investors own 81.10% of the company's stock.

Procore Technologies Stock Performance

Shares of Procore Technologies stock traded up $1.05 during trading on Friday, reaching $76.53. The company's stock had a trading volume of 3,083,223 shares, compared to its average volume of 1,667,811. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $86.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of -153.06 and a beta of 0.82. The business's fifty day moving average price is $72.18 and its 200-day moving average price is $65.56.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. As a group, equities research analysts predict that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP William Fred Fleming, Jr. sold 15,000 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the sale, the senior vice president now owns 75,120 shares in the company, valued at approximately $5,314,740. The trade was a 16.64 % 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 12,340 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $71.04, for a total transaction of $876,633.60. Following the sale, the insider now owns 2,284,989 shares of the company's stock, valued at $162,325,618.56. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,193 shares of company stock worth $10,364,826 over the last 90 days. Corporate insiders own 29.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PCOR shares. Robert W. Baird boosted their price objective on Procore Technologies from $87.00 to $96.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. Stifel Nicolaus lifted their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays lifted their target price on Procore Technologies from $66.00 to $78.00 and gave the stock an "equal weight" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Finally, JMP Securities boosted their price objective on Procore Technologies from $75.00 to $90.00 and gave the stock a "market outperform" rating in a report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Procore Technologies currently has an average rating of "Moderate Buy" and an average price target of $84.24.

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.