Holocene Advisors LP Raises Stake in Procore Technologies, Inc. (NYSE:PCOR)

Holocene Advisors LP grew its position in Procore Technologies, Inc. (NYSE:PCOR) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,873,343 shares of the company’s stock after purchasing an additional 21,234 shares during the quarter. Holocene Advisors LP’s holdings in Procore Technologies were worth $115,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Procore Technologies in the 3rd quarter worth approximately $26,000. Signaturefd LLC grew its holdings in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after buying an additional 216 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Procore Technologies during the second quarter valued at approximately $51,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP William Fred Fleming, Jr. sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the transaction, the senior vice president now directly owns 75,120 shares in the company, valued at approximately $5,314,740. This trade represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Connor Kevin J. O sold 8,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total transaction of $521,030.44. Following the completion of the transaction, the director now directly owns 1,371,104 shares of the company’s stock, valued at $79,606,298.24. This trade represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,553 shares of company stock worth $7,933,974 in the last ninety days. 29.00% of the stock is owned by company insiders.

Procore Technologies Stock Down 0.3 %

Shares of NYSE:PCOR opened at $81.20 on Monday. The firm has a market capitalization of $12.07 billion, a PE ratio of -162.40 and a beta of 0.71. The business has a 50 day simple moving average of $66.45 and a two-hundred day simple moving average of $64.40. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, equities analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of research reports. Scotiabank upped their target price on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets increased their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. TD Cowen increased their price target on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group lifted their price objective on Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. upped their price objective on Procore Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.65.

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.