Wasatch Advisors LP Boosts Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Wasatch Advisors LP grew its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 28.8% in the fourth 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 buying an additional 455,314 shares during the period. Wasatch Advisors LP’s holdings in Procore Technologies were worth $152,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Versant Capital Management Inc lifted its stake 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 purchasing an additional 175 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in 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 in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after buying an additional 162 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after buying an additional 404 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in Procore Technologies during the 4th quarter worth $53,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. DA Davidson decreased their price objective on shares of Procore Technologies from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday. Canaccord Genuity Group raised their price target on Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. UBS Group lifted their price target on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Mizuho decreased their price objective on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Jefferies Financial Group cut their target price on shares of Procore Technologies from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Four investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.88.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares of the company’s stock, valued at $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 7,700 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total transaction of $436,359.00. Following the completion of the sale, the director now directly owns 1,208,284 shares of the company’s stock, valued at $68,473,454.28. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,766 shares of company stock valued at $4,995,169. Company insiders own 29.00% of the company’s stock.

Procore Technologies Price Performance

PCOR opened at $60.64 on Wednesday. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company’s 50 day simple moving average is $70.99 and its 200 day simple moving average is $72.24. The stock has a market capitalization of $9.09 billion, a PE ratio of -84.21 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last announced 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 company had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

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.