Tower Research Capital LLC TRC Makes New Investment in Procore Technologies, Inc. (NYSE:PCOR)

Tower Research Capital LLC TRC acquired a new stake 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 fund acquired 9,848 shares of the company's stock, valued at approximately $738,000.

A number of other institutional investors also recently modified their holdings of PCOR. Barclays PLC increased its stake in Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after purchasing an additional 22,734 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Procore Technologies during the third quarter worth about $227,000. Tidal Investments LLC raised its holdings in shares of Procore Technologies by 237.8% in the 3rd quarter. Tidal Investments LLC now owns 17,538 shares of the company's stock worth $1,082,000 after acquiring an additional 12,346 shares during the last quarter. Synovus Financial Corp lifted its position in Procore Technologies by 24.3% in the 3rd quarter. Synovus Financial Corp now owns 6,465 shares of the company's stock valued at $399,000 after acquiring an additional 1,262 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PCOR shares. KeyCorp dropped their target price on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Scotiabank dropped their price objective on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research note on Thursday. UBS Group reduced their target price on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday. DA Davidson dropped their price target on shares of Procore Technologies from $80.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, JMP Securities upped their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Procore Technologies currently has an average rating of "Moderate Buy" and an average price target of $81.18.

Insiders Place Their Bets

In related news, insider Benjamin C. Singer sold 6,937 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $83.60, for a total transaction of $579,933.20. Following the sale, the insider now owns 72,110 shares of the company's stock, valued at approximately $6,028,396. This represents a 8.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Howard Fu sold 1,480 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $60.02, for a total transaction of $88,829.60. Following the completion of the transaction, the chief financial officer now directly owns 206,704 shares of the company's stock, valued at approximately $12,406,374.08. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,962 shares of company stock worth $5,041,588 over the last 90 days. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Trading Up 1.3 %

Shares of Procore Technologies stock opened at $63.80 on Friday. 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 stock has a market capitalization of $9.57 billion, a P/E ratio of -88.61 and a beta of 0.90. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The stock's 50-day simple moving average is $67.74 and its 200 day simple moving average is $72.23.

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

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.

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