Wasatch Advisors LP Buys 455,314 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Wasatch Advisors LP grew its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 28.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,036,632 shares of the company's stock after purchasing an additional 455,314 shares during the period. Wasatch Advisors LP owned 1.37% of Procore Technologies worth $152,605,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Procore Technologies by 29,376.1% in the 4th 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 in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Procore Technologies during the 4th quarter worth approximately $131,840,000. Assenagon Asset Management S.A. lifted its stake in Procore Technologies by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock valued at $214,377,000 after buying an additional 1,425,967 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Procore Technologies by 474.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,409,499 shares of the company's stock valued at $105,614,000 after purchasing an additional 1,164,074 shares during the period. Finally, Norges Bank bought a new position in shares of Procore Technologies in the fourth quarter worth $86,387,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PCOR shares. Mizuho decreased 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. JPMorgan Chase & Co. dropped their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. DA Davidson decreased their target price on Procore Technologies from $80.00 to $60.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group raised their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Macquarie cut their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $86.88.

Insider Buying and Selling

In other Procore Technologies news, insider Benjamin C. Singer sold 1,500 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total value of $117,000.00. Following the completion of the transaction, the insider now owns 83,039 shares of the company's stock, valued at $6,477,042. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Fu sold 1,216 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $61.34, for a total value of $74,589.44. Following the completion of the transaction, the chief financial officer now directly owns 208,184 shares of the company's stock, valued at $12,770,006.56. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,982 shares of company stock valued at $5,069,759 over the last 90 days. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Stock Down 2.5 %

Shares of Procore Technologies stock traded down $1.50 during trading on Friday, reaching $58.37. The stock had a trading volume of 1,030,883 shares, compared to its average volume of 1,731,829. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of -81.06 and a beta of 0.90. The stock has a fifty day moving average price of $69.99 and a two-hundred day moving average price of $72.12. 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, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92.

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 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 net margin of 9.20% and a negative return on equity of 5.10%. Sell-side analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Procore Technologies 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.