Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 97.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,554 shares of the company's stock after selling 194,429 shares during the period. Trexquant Investment LP's holdings in Procore Technologies were worth $416,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its position in Procore Technologies by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock worth $1,199,000 after acquiring an additional 129 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after acquiring an additional 147 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after acquiring an additional 162 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Procore Technologies by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 4,438 shares of the company's stock worth $333,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

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Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 7,700 shares of the business's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total transaction of $436,359.00. Following the sale, the director now owns 1,208,284 shares in the company, valued at approximately $68,473,454.28. The trade was a 0.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the sale, the insider now 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. Insiders sold 72,176 shares of company stock worth $5,486,304 in the last three months. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Stock Up 0.2 %

Shares of NYSE PCOR traded up $0.11 during mid-day trading on Tuesday, reaching $60.64. 869,047 shares of the company were exchanged, compared to its average volume of 1,728,707. The firm has a 50-day moving average of $70.99 and a 200 day moving average of $72.24. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. 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 stock has a market cap of $9.09 billion, a price-to-earnings ratio of -84.21 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.46). The firm 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%. On average, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

PCOR has been the subject of several analyst reports. Macquarie decreased their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. JMP Securities boosted their price objective on Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a report on Tuesday, February 18th. Mizuho reduced their target price on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday. Piper Sandler boosted their target price on shares of Procore Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, KeyCorp upped their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an "overweight" rating in a report 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 stock. According to data from MarketBeat.com, Procore Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $86.88.

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.