Charles Schwab Investment Management Inc. Acquires 18,554 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 700,857 shares of the company’s stock after acquiring an additional 18,554 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.47% of Procore Technologies worth $52,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Chicago Partners Investment Group LLC increased its position in shares of Procore Technologies by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after acquiring an additional 129 shares in the last quarter. CIBC Asset Management Inc increased its stake in Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after buying an additional 143 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC boosted its position in Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total transaction of $117,000.00. Following the completion of the transaction, the insider now owns 83,039 shares of the company’s stock, valued at $6,477,042. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $73.62, for a total value of $377,523.36. Following the transaction, the director now directly owns 1,264,700 shares of the company’s stock, valued at approximately $93,107,214. This trade represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,211 shares of company stock valued at $4,672,701. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Trading Down 2.4 %

Shares of PCOR stock opened at $65.91 on Friday. The stock has a market capitalization of $9.88 billion, a PE ratio of -91.54 and a beta of 0.85. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The business has a 50-day moving average of $77.24 and a 200 day moving average of $71.03. 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 released its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on PCOR shares. Mizuho boosted 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. Robert W. Baird boosted their price objective on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Scotiabank boosted their price objective on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Canaccord Genuity Group boosted their target price on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, UBS Group boosted their target price on Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Four investment 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.24.

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.