Vanguard Group Inc. Acquires 838,925 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Vanguard Group Inc. increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,900,337 shares of the company's stock after acquiring an additional 838,925 shares during the period. Vanguard Group Inc. owned approximately 8.01% of Procore Technologies worth $891,692,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Procore Technologies by 27,239.5% in the third 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 in the last quarter. Assenagon Asset Management S.A. lifted its position 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 valued at $214,377,000 after acquiring an additional 1,425,967 shares during the last quarter. PointState Capital LP bought a new stake in shares of Procore Technologies during the 3rd quarter worth $81,306,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company's stock worth $142,267,000 after acquiring an additional 1,297,151 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

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Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total value of $117,000.00. Following the transaction, the insider now owns 83,039 shares in the company, valued at $6,477,042. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the sale, the executive now owns 161,368 shares of the company's stock, valued at $13,380,634.56. This trade represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,604 shares of company stock worth $5,427,468. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Stock Up 1.3 %

NYSE PCOR traded up $0.86 during trading on Wednesday, reaching $68.49. The company's stock had a trading volume of 172,621 shares, compared to its average volume of 1,695,614. The business has a 50-day moving average price of $75.34 and a 200-day moving average price of $72.32. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The stock has a market capitalization of $10.27 billion, a PE ratio of -94.74 and a beta of 0.85. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 5.10% and a negative net margin of 9.20%. On average, research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCOR has been the subject of a number of recent analyst reports. JMP Securities increased their price target on Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 18th. KeyCorp boosted their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Canaccord Genuity Group raised their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Macquarie cut their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, Mizuho increased their target price on Procore Technologies from $65.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.65.

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.