Raymond James Financial Inc. Buys Shares of 276,641 Procore Technologies, Inc. (NYSE:PCOR)

Raymond James Financial Inc. purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 276,641 shares of the company’s stock, valued at approximately $20,729,000.

A number of other institutional investors have also modified their holdings of PCOR. Vanguard Group Inc. grew its stake in Procore Technologies by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock worth $891,692,000 after acquiring an additional 838,925 shares during the period. Assenagon Asset Management S.A. grew its position in shares of 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 purchasing an additional 1,425,967 shares during the period. Principal Financial Group Inc. increased its stake in Procore Technologies by 29,376.1% in the fourth 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 during the last quarter. FIL Ltd boosted its stake in Procore Technologies by 4.0% in the 4th quarter. FIL Ltd now owns 2,171,975 shares of the company’s stock worth $162,746,000 after buying an additional 84,216 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Procore Technologies by 20.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,766,675 shares of the company’s stock valued at $132,377,000 after buying an additional 304,396 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Stock Down 2.5 %

Shares of NYSE PCOR opened at $58.37 on Friday. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of -81.06 and a beta of 0.90. 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 stock’s 50-day simple moving average is $69.99 and its 200-day simple moving average is $72.21.

Procore Technologies (NYSE:PCOR) 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). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $302.05 million for the quarter, compared to analysts’ expectations of $297.72 million. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, CFO Howard Fu sold 8,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 156,188 shares in the company, valued at approximately $13,588,356. The trade was a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares in the company, valued at $17,480. This trade represents a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,982 shares of company stock worth $5,069,759 in the last ninety days. 29.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PCOR shares. DA Davidson decreased their target price on shares of Procore Technologies from $80.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. KeyCorp boosted their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group reduced their target price on Procore Technologies from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Mizuho cut their price objective on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group increased their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.88.

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.