Xponance Inc. Boosts Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Xponance Inc. lifted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 8.2% in the fourth quarter, HoldingsChannel reports. The firm owned 14,601 shares of the company’s stock after acquiring an additional 1,112 shares during the quarter. Xponance Inc.’s holdings in Procore Technologies were worth $1,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCOR. Versant Capital Management Inc boosted its stake in shares of Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. Parkside Financial Bank & Trust raised its holdings in 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 in the last quarter. V Square Quantitative Management LLC lifted its stake in Procore Technologies by 37.8% in the fourth 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. Hilltop National Bank acquired a new position in Procore Technologies during the 4th quarter worth approximately $53,000. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of Procore Technologies by 1,434.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock valued at $54,000 after purchasing an additional 674 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Price Performance

Shares of PCOR opened at $70.37 on Monday. 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, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The firm has a 50-day simple moving average of $76.38 and a 200-day simple moving average of $71.64. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of -97.73 and a beta of 0.85.

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

Insider Buying and Selling at Procore Technologies

In related news, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $73.62, for a total value of $377,523.36. Following the sale, the director now directly owns 1,264,700 shares in the company, valued at $93,107,214. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Howard Fu sold 8,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the transaction, the chief financial officer now owns 156,188 shares of the company’s stock, valued at $13,588,356. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,604 shares of company stock valued at $5,427,468. 29.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler boosted their target price on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Macquarie decreased their price target on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Robert W. Baird increased their price objective on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $100.00 in a research note on Monday, January 6th. Finally, UBS Group increased their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Four research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.24.

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.