Procore Technologies, Inc. (NYSE:PCOR) is Greycroft LP’s 9th Largest Position

Greycroft LP boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 116.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,500 shares of the company’s stock after purchasing an additional 3,500 shares during the quarter. Procore Technologies makes up approximately 0.4% of Greycroft LP’s holdings, making the stock its 9th largest position. Greycroft LP’s holdings in Procore Technologies were worth $487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC increased 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 valued at $4,259,000 after acquiring an additional 22,734 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Procore Technologies by 84.7% in the fourth quarter. GAMMA Investing LLC now owns 746 shares of the company’s stock valued at $56,000 after purchasing an additional 342 shares in the last quarter. Hilltop National Bank purchased a new position in Procore Technologies in the fourth quarter valued at approximately $53,000. Harbor Capital Advisors Inc. raised its holdings in Procore Technologies by 5.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 88,154 shares of the company’s stock worth $6,605,000 after purchasing an additional 4,407 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after buying an additional 1,425,967 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JMP Securities lifted their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. cut their target price on Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Scotiabank reduced their target price on Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating for the company in a report on Thursday, April 24th. Barclays raised their price target on Procore Technologies from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, Mizuho reduced their price objective on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.24.

Procore Technologies Trading Down 1.2 %

Shares of Procore Technologies stock opened at $65.62 on Friday. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of -91.14 and a beta of 0.90. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The company’s 50-day simple moving average is $64.84 and its 200-day simple moving average is $72.29. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $310.63 million for the quarter, compared to analysts’ expectations of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Howard Fu sold 8,000 shares of the firm’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 transaction, the chief financial officer now directly owns 156,188 shares of the company’s stock, valued at $13,588,356. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies 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 directly owns 200 shares of the company’s stock, valued at approximately $17,480. This represents a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,142 shares of company stock worth $4,053,807. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Company 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.