SBI Securities Co. Ltd. Makes New $56,000 Investment in Procore Technologies, Inc. (NYSE:PCOR)

SBI Securities Co. Ltd. acquired a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 749 shares of the company’s stock, valued at approximately $56,000.

Other institutional investors have also recently modified their holdings of the company. Diversified Trust Co grew its holdings in shares of Procore Technologies by 157.1% during the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock worth $3,795,000 after purchasing an additional 30,948 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Procore Technologies by 39.2% in the third quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock worth $59,635,000 after acquiring an additional 272,030 shares in the last quarter. Barclays PLC raised its holdings in Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock worth $4,259,000 after buying an additional 22,734 shares during the last quarter. US Bancorp DE lifted its stake in shares of Procore Technologies by 18.8% in the fourth quarter. US Bancorp DE now owns 21,416 shares of the company’s stock valued at $1,605,000 after buying an additional 3,390 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP grew its holdings in shares of Procore Technologies by 30.2% during the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock valued at $7,825,000 after buying an additional 29,431 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PCOR. UBS Group increased their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, February 14th. Piper Sandler upped their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Robert W. Baird upped their price target on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $100.00 in a research note on Monday, January 6th. Finally, Canaccord Genuity Group increased their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.94.

Insiders Place Their Bets

In related news, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction on Monday, January 13th. The stock was sold at an average price of $73.62, for a total value of $377,523.36. Following the completion of the transaction, the director now directly owns 1,264,700 shares in the company, valued at approximately $93,107,214. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Howard Fu sold 8,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the transaction, the chief financial officer now owns 156,188 shares of the company’s stock, valued at $13,588,356. This represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $5,193,578 over the last 90 days. 29.00% of the stock is owned by company insiders.

Procore Technologies Trading Down 5.7 %

Shares of Procore Technologies stock opened at $69.12 on Tuesday. The company has a market cap of $10.36 billion, a P/E ratio of -95.99 and a beta of 0.85. The firm has a 50-day simple moving average of $77.76 and a two-hundred day simple moving average of $71.06. 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, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. As a group, equities analysts predict 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.