Two Star Manager LLC Increases Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Two Star Manager LLC boosted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 62.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,345 shares of the company’s stock after acquiring an additional 38,624 shares during the period. Procore Technologies comprises approximately 3.5% of Two Star Manager LLC’s portfolio, making the stock its 15th largest position. Two Star Manager LLC owned approximately 0.07% of Procore Technologies worth $7,519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCOR. Parkside Financial Bank & Trust increased its stake 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 purchasing an additional 147 shares during the period. V Square Quantitative Management LLC increased 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 valued at $44,000 after purchasing an additional 162 shares during the period. Huntington National Bank increased its stake in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after purchasing an additional 404 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in Procore Technologies by 1,434.0% in the fourth 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 period. Finally, SBI Securities Co. Ltd. acquired a new position in Procore Technologies in the fourth quarter valued at $56,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Trading Down 0.5%

Shares of PCOR opened at $71.08 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average is $64.88 and its two-hundred day moving average is $72.68. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The firm has a market capitalization of $10.60 billion, a P/E ratio of -98.72 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of recent research reports. Macquarie dropped their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. KeyCorp dropped their price objective on shares of Procore Technologies from $96.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Piper Sandler dropped their price objective on shares of Procore Technologies from $110.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. BMO Capital Markets dropped their price target on shares of Procore Technologies from $95.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Mizuho dropped their price target on shares of Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.24.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $67.10, for a total value of $344,088.80. Following the sale, the director now owns 1,226,240 shares of the company’s stock, valued at $82,280,704. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 6,937 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $83.60, for a total transaction of $579,933.20. Following the completion of the sale, the insider now directly owns 72,110 shares in the company, valued at $6,028,396. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,834 shares of company stock valued at $5,181,472 over the last quarter. Corporate insiders own 29.00% of the company’s stock.

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.