13,118 Shares in Procore Technologies, Inc. $PCOR Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,118 shares of the company’s stock, valued at approximately $954,000.

Several other institutional investors have also recently made changes to their positions in PCOR. Wilmington Savings Fund Society FSB purchased a new position in shares of Procore Technologies during the third quarter worth $34,000. Jones Financial Companies Lllp raised its holdings in shares of Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 199 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Procore Technologies during the fourth quarter worth $41,000. Allworth Financial LP raised its holdings in shares of Procore Technologies by 48.2% during the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after purchasing an additional 204 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in shares of Procore Technologies during the fourth quarter worth $54,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $57.25, for a total value of $440,367.00. Following the sale, the director owned 1,004,444 shares in the company, valued at $57,504,419. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of Procore Technologies stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $51.06, for a total transaction of $2,865,589.32. Following the completion of the sale, the chairman owned 927,580 shares in the company, valued at approximately $47,362,234.80. This trade represents a 5.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 181,826 shares of company stock valued at $9,486,036 in the last ninety days. 16.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PCOR shares. The Goldman Sachs Group reduced their target price on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, May 7th. DA Davidson reduced their target price on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, February 13th. UBS Group reduced their target price on shares of Procore Technologies from $74.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. BMO Capital Markets reduced their target price on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Finally, Canaccord Genuity Group cut their price objective on shares of Procore Technologies from $90.00 to $72.00 and set a “buy” rating for the company in a report on Friday, February 13th. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus price target of $72.56.

Procore Technologies Stock Up 4.1%

PCOR opened at $49.50 on Friday. Procore Technologies, Inc. has a fifty-two week low of $45.02 and a fifty-two week high of $82.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.12 and a current ratio of 1.12. The company has a fifty day moving average of $52.82 and a two-hundred day moving average of $61.32. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of -97.06 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.24%. The firm had revenue of $359.28 million during the quarter, compared to analysts’ expectations of $352.82 million. During the same period in the previous year, the firm posted $0.23 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. On average, research analysts expect that Procore Technologies, Inc. will post 0.06 earnings per share for the current year.

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. 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 Execution, 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.