Principal Securities Inc. Trims Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Principal Securities Inc. reduced its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 35.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,299 shares of the company’s stock after selling 1,249 shares during the period. Principal Securities Inc.’s holdings in Procore Technologies were worth $172,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc grew 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 worth $27,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC grew its position in shares of 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 position in Procore Technologies in the fourth quarter valued at $53,000. GAMMA Investing LLC lifted its position in Procore Technologies by 84.7% during the fourth quarter. GAMMA Investing LLC now owns 746 shares of the company’s stock worth $56,000 after buying an additional 342 shares during the period. Finally, International Assets Investment Management LLC boosted 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 worth $49,000 after buying an additional 789 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PCOR. Stifel Nicolaus upped their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JMP Securities upped their price target on Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 18th. Scotiabank lifted their price objective on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday, November 22nd. DA Davidson raised their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Mizuho increased their price objective on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.94.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.26, for a total value of $520,876.60. Following the completion of the transaction, the director now directly owns 1,269,828 shares of the company’s stock, valued at $103,186,223.28. This represents a 0.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now owns 84,539 shares of the company’s stock, valued at $6,440,181.02. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,311 shares of company stock valued at $7,720,903. Insiders own 29.00% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $80.41 on Tuesday. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of -111.68 and a beta of 0.84. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The company’s 50-day simple moving average is $78.14 and its 200-day simple moving average is $69.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last issued its 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 5.10% and a negative net margin of 9.20%. The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share 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.