TFJ Management LLC Acquires Shares of 70,271 Procore Technologies, Inc. (NYSE:PCOR)

TFJ Management LLC purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the fourth quarter, Holdings Channel reports. The firm purchased 70,271 shares of the company’s stock, valued at approximately $5,265,000. Procore Technologies comprises about 4.7% of TFJ Management LLC’s holdings, making the stock its 9th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Procore Technologies by 49.1% in the 3rd quarter. Barclays PLC now owns 69,012 shares of the company’s stock worth $4,259,000 after purchasing an additional 22,734 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Procore Technologies in the third quarter valued at $227,000. Tidal Investments LLC boosted its holdings in shares of Procore Technologies by 237.8% during the third quarter. Tidal Investments LLC now owns 17,538 shares of the company’s stock valued at $1,082,000 after acquiring an additional 12,346 shares during the period. Synovus Financial Corp increased its holdings in shares of Procore Technologies by 24.3% in the 3rd quarter. Synovus Financial Corp now owns 6,465 shares of the company’s stock worth $399,000 after acquiring an additional 1,262 shares during the period. Finally, Versant Capital Management Inc lifted its position in 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 purchasing an additional 175 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PCOR. JPMorgan Chase & Co. cut their price target on Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. UBS Group raised their price target on Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, February 14th. DA Davidson decreased their target price on shares of Procore Technologies from $80.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. JMP Securities increased their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. Finally, Piper Sandler upped their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.88.

Insider Activity at Procore Technologies

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares in the company, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Howard Fu sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 $13,588,356. This trade represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,982 shares of company stock valued at $5,069,759. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Price Performance

NYSE PCOR opened at $58.37 on Friday. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of -81.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a 50 day simple moving average of $69.99 and a 200-day simple moving average of $72.21. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR) last announced 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 firm had revenue of $302.05 million for the quarter, compared to analysts’ expectations of $297.72 million. Equities research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.