Procore Technologies, Inc. (NYSE:PCOR) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 53.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,031 shares of the company’s stock after acquiring an additional 5,228 shares during the period. PNC Financial Services Group Inc.’s holdings in Procore Technologies were worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after purchasing an additional 887 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Procore Technologies during the 4th quarter worth about $62,000. TFO Wealth Partners LLC increased its holdings in shares of Procore Technologies by 43,600.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after acquiring an additional 2,180 shares during the last quarter. Wasatch Advisors LP acquired a new stake in shares of Procore Technologies during the 4th quarter worth about $218,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Procore Technologies during the fourth quarter worth approximately $242,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $64.41 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a market cap of $9.42 billion, a PE ratio of -67.09 and a beta of 0.76. Procore Technologies, Inc. has a one year low of $48.11 and a one year high of $83.35. The business’s fifty day moving average price is $68.18 and its two-hundred day moving average price is $71.30.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The business had revenue of $269.43 million during the quarter, compared to the consensus estimate of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. On average, analysts forecast that Procore Technologies, Inc. will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $81.30, for a total transaction of $5,528,400.00. Following the transaction, the chief executive officer now directly owns 531,399 shares in the company, valued at $43,202,738.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $81.30, for a total transaction of $5,528,400.00. Following the completion of the sale, the chief executive officer now directly owns 531,399 shares of the company’s stock, valued at approximately $43,202,738.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig F. Jr. Courtemanche sold 22,483 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $70.17, for a total value of $1,577,632.11. Following the completion of the transaction, the chief executive officer now directly owns 866,718 shares in the company, valued at $60,817,602.06. The disclosure for this sale can be found here. Insiders have sold a total of 302,576 shares of company stock valued at $21,709,095 in the last quarter. 29.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PCOR has been the topic of several recent analyst reports. Canaccord Genuity Group dropped their price target on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. DA Davidson reiterated a “buy” rating and set a $95.00 price target on shares of Procore Technologies in a research note on Thursday, March 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Procore Technologies in a report on Tuesday, June 11th. TD Cowen initiated coverage on Procore Technologies in a report on Wednesday, June 12th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Mizuho restated a “neutral” rating and set a $70.00 price target (down previously from $75.00) on shares of Procore Technologies in a research note on Tuesday, June 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.94.

About Procore Technologies

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.