Townsquare Capital LLC grew its holdings in Procore Technologies, Inc. (NYSE:PCOR – Get Rating) by 35.1% during the 4th quarter, Holdings Channel reports. The fund owned 20,181 shares of the company’s stock after purchasing an additional 5,242 shares during the period. Townsquare Capital LLC’s holdings in Procore Technologies were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in PCOR. JPMorgan Chase & Co. lifted its stake in shares of Procore Technologies by 94.6% in the 4th quarter. JPMorgan Chase & Co. now owns 3,137,249 shares of the company’s stock valued at $148,017,000 after purchasing an additional 1,525,039 shares during the period. Vanguard Group Inc. raised its position in shares of Procore Technologies by 20.4% in the third quarter. Vanguard Group Inc. now owns 6,141,607 shares of the company’s stock valued at $303,886,000 after buying an additional 1,042,498 shares during the last quarter. BlackRock Inc. raised its position in shares of Procore Technologies by 61.5% in the third quarter. BlackRock Inc. now owns 2,574,359 shares of the company’s stock valued at $127,378,000 after buying an additional 980,125 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Procore Technologies in the first quarter valued at about $42,646,000. Finally, Cadian Capital Management LP grew its holdings in shares of Procore Technologies by 38.8% in the third quarter. Cadian Capital Management LP now owns 1,896,724 shares of the company’s stock valued at $93,850,000 after purchasing an additional 530,000 shares during the period. 82.50% of the stock is currently owned by institutional investors and hedge funds.
Procore Technologies Stock Up 2.9 %
Shares of PCOR opened at $66.83 on Tuesday. The stock has a market capitalization of $9.37 billion, a PE ratio of -33.08 and a beta of 0.55. Procore Technologies, Inc. has a 1 year low of $41.07 and a 1 year high of $68.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.51 and a current ratio of 1.51. The company’s 50-day simple moving average is $57.00 and its 200-day simple moving average is $56.12.
Procore Technologies (NYSE:PCOR – Get Rating) last issued its earnings results on Wednesday, May 3rd. The company reported earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.13. The firm had revenue of $213.53 million for the quarter, compared to analysts’ expectations of $203.24 million. Procore Technologies has a negative net margin of 36.03% and a negative return on equity of 19.75%. Analysts forecast that Procore Technologies, Inc. will post -1.57 earnings per share for the current fiscal year.
Insider Activity at Procore Technologies
In related news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $58.58, for a total value of $300,398.24. Following the sale, the director now owns 1,550,538 shares of the company’s stock, valued at $90,830,516.04. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 24,200 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,302,202.00. Following the sale, the chief executive officer now owns 3,536,085 shares of the company’s stock, valued at $190,276,733.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $58.58, for a total transaction of $300,398.24. Following the sale, the director now directly owns 1,550,538 shares in the company, valued at approximately $90,830,516.04. The disclosure for this sale can be found here. Insiders have sold a total of 164,414 shares of company stock valued at $9,661,627 over the last 90 days. 39.20% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equity research analysts recently issued reports on PCOR shares. Stifel Nicolaus dropped their price objective on shares of Procore Technologies from $79.00 to $67.00 in a report on Thursday, May 4th. Oppenheimer upped their price objective on shares of Procore Technologies from $60.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, February 17th. The Goldman Sachs Group raised shares of Procore Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $63.00 to $75.00 in a report on Thursday, May 4th. JMP Securities reissued a “market outperform” rating and issued a $75.00 price objective on shares of Procore Technologies in a report on Monday, April 17th. Finally, DA Davidson assumed coverage on shares of Procore Technologies in a research note on Tuesday, March 21st. They set a “buy” rating and a $72.00 target price for the company. Two equity research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.00.
Procore Technologies Company Profile
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Procore Technologies, Inc provides a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables general and specialty contractors, architects and engineers to collaborate on construction projects. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.
Further Reading
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