Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC lifted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 19.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,098 shares of the company’s stock after buying an additional 1,012 shares during the quarter. Parallel Advisors LLC’s holdings in Procore Technologies were worth $457,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake 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 buying an additional 175 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 147 shares during the period. V Square Quantitative Management LLC lifted its position 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. Hilltop National Bank acquired a new stake in Procore Technologies in the fourth quarter valued at about $53,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Procore Technologies by 1,434.0% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Howard Fu sold 1,447 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $68.79, for a total transaction of $99,539.13. Following the transaction, the chief financial officer now directly owns 144,713 shares in the company, valued at approximately $9,954,807.27. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies 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 completion of the sale, the director now owns 1,226,240 shares of the company’s stock, valued at $82,280,704. This trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,104 shares of company stock valued at $5,541,738. Company insiders own 29.00% of the company’s stock.

Analyst Upgrades and Downgrades

PCOR has been the subject of several recent analyst reports. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $100.00 in a report on Monday, January 6th. Stifel Nicolaus raised their target price on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. TD Cowen upped their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. UBS Group raised their price objective on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, KeyCorp upped their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.24.

Procore Technologies Stock Up 1.3 %

PCOR opened at $70.37 on Friday. The firm has a market cap of $10.55 billion, a P/E ratio of -97.73 and a beta of 0.85. The business’s fifty day simple moving average is $76.38 and its 200 day simple moving average is $71.43. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. 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 quarterly earnings results 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). The firm had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.