Park Avenue Securities LLC Purchases 5,299 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Park Avenue Securities LLC increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 71.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,713 shares of the company’s stock after purchasing an additional 5,299 shares during the period. Park Avenue Securities LLC’s holdings in Procore Technologies were worth $953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PCOR. Dragoneer Investment Group LLC raised its position in shares of Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares during the period. Wasatch Advisors LP increased its holdings in Procore Technologies by 27,239.5% in the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after acquiring an additional 1,575,534 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Procore Technologies in the 3rd quarter valued at $88,572,000. PointState Capital LP bought a new stake in Procore Technologies in the 3rd quarter valued at $81,306,000. Finally, Janus Henderson Group PLC increased its holdings in Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after acquiring an additional 1,297,151 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insider Activity at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the completion of the sale, the senior vice president now owns 75,120 shares in the company, valued at approximately $5,314,740. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Fu sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the completion of the sale, the chief financial officer now owns 171,997 shares of the company’s stock, valued at approximately $12,340,784.75. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 149,103 shares of company stock worth $11,029,458 in the last 90 days. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Trading Down 1.4 %

Shares of PCOR opened at $77.03 on Tuesday. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $86.67. The company has a 50-day moving average of $77.23 and a 200 day moving average of $67.26. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of -154.06 and a beta of 0.83. 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. On average, research analysts expect that Procore Technologies, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

PCOR has been the topic of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Barclays lifted their price target on shares of Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $100.00 in a research note on Monday, January 6th. Scotiabank lifted their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Finally, Piper Sandler lifted their price objective on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.00.

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.