Choreo LLC Takes $247,000 Position in Procore Technologies, Inc. (NYSE:PCOR)

Choreo LLC purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,280 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PCOR. GAMMA Investing LLC lifted its position in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Procore Technologies during the third quarter worth approximately $26,000. Versant Capital Management Inc grew its position 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 last quarter. International Assets Investment Management LLC increased its stake in Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares during the period. Finally, Hilltop National Bank purchased a new position in Procore Technologies during the 4th quarter worth $53,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Piper Sandler increased their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Mizuho increased their price objective on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, DA Davidson raised their target price on Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Insider Buying and Selling at Procore Technologies

In related news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total value of $117,000.00. Following the completion of the transaction, the insider now directly owns 83,039 shares in the company, valued at approximately $6,477,042. This represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 33,332 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total value of $2,730,890.76. Following the transaction, the director now owns 1,282,648 shares in the company, valued at $105,087,350.64. This trade represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,656 shares of company stock worth $8,776,297. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Trading Up 16.5 %

Shares of Procore Technologies stock opened at $87.48 on Friday. The business has a 50 day moving average price of $77.63 and a 200 day moving average price of $68.62. The company has a market capitalization of $13.01 billion, a P/E ratio of -174.96 and a beta of 0.84. 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, Inc. has a 1 year low of $49.46 and a 1 year high of $87.90.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.22 EPS for the current fiscal 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.