Wells Fargo & Company MN Has $13.62 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Wells Fargo & Company MN boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 68.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,797 shares of the company's stock after purchasing an additional 73,574 shares during the quarter. Wells Fargo & Company MN owned about 0.12% of Procore Technologies worth $13,622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCOR. Versant Capital Management Inc increased its position in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after buying an additional 175 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 147 shares during the last quarter. V Square Quantitative Management LLC grew its position in Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after buying an additional 162 shares during the last quarter. Huntington National Bank raised its position in Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after buying an additional 404 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Procore Technologies in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PCOR. KeyCorp raised their target price on Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Piper Sandler upped their target price on shares of Procore Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, February 14th. UBS Group boosted their price objective on shares of Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, February 14th. JMP Securities lifted their target price on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group raised their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.88.

Procore Technologies Stock Performance

Shares of NYSE PCOR traded down $1.50 during midday trading on Friday, hitting $58.37. 1,030,883 shares of the company's stock were exchanged, compared to its average volume of 1,728,842. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The stock's 50 day moving average price is $70.32 and its 200-day moving average price is $72.13. The firm has a market cap of $8.75 billion, a P/E ratio of -81.06 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $77.33, for a total value of $495,685.30. Following the transaction, the director now owns 1,244,188 shares in the company, valued at $96,213,058.04. The trade was a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 83,039 shares of the company's stock, valued at approximately $6,477,042. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,982 shares of company stock valued at $5,069,759 over the last quarter. Company insiders own 29.00% of the company's stock.

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.