Wildcat Capital Management LLC Makes New $607,000 Investment in Procore Technologies, Inc. (NYSE:PCOR)

Wildcat Capital Management LLC purchased a new position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,095 shares of the company's stock, valued at approximately $607,000. Procore Technologies makes up 0.2% of Wildcat Capital Management LLC's holdings, making the stock its 7th biggest position.

Several other institutional investors have also recently made changes to their positions in the stock. Diversified Trust Co boosted its holdings in Procore Technologies by 157.1% in the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company's stock worth $3,795,000 after buying an additional 30,948 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Procore Technologies by 39.2% in the third quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company's stock worth $59,635,000 after acquiring an additional 272,030 shares during the period. Barclays PLC grew its position in shares of Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after purchasing an additional 22,734 shares in the last quarter. Advantage Alpha Capital Partners LP raised its stake in Procore Technologies by 30.2% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company's stock valued at $7,825,000 after purchasing an additional 29,431 shares during the period. Finally, Pathstone Holdings LLC lifted its holdings in Procore Technologies by 804.3% in the 3rd quarter. Pathstone Holdings LLC now owns 145,802 shares of the company's stock worth $8,999,000 after purchasing an additional 129,679 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

Procore Technologies Stock Up 16.5 %

Procore Technologies stock traded up $12.38 during midday trading on Friday, reaching $87.48. The stock had a trading volume of 4,580,396 shares, compared to its average volume of 993,712. The company has a fifty day moving average of $77.63 and a 200 day moving average of $68.60. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $87.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Equities analysts predict that Procore Technologies, Inc. will post -0.22 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the company a "sector outperform" rating in a research report on Friday, November 22nd. JMP Securities reiterated a "market outperform" rating and issued a $90.00 price target on shares of Procore Technologies in a research note on Friday, February 7th. Canaccord Genuity Group raised their price objective on Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Friday. DA Davidson boosted their target price on Procore Technologies from $60.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Finally, TD Cowen raised their price target on Procore Technologies from $70.00 to $82.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $89.65.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 33,332 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the transaction, the director now directly owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. This trade represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $190,388.48. Following the completion of the transaction, the senior vice president now directly owns 72,605 shares of the company's stock, valued at $5,181,092.80. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,656 shares of company stock worth $8,776,297 in the last three months. Corporate 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.