Teacher Retirement System of Texas Increases Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Teacher Retirement System of Texas raised its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 51.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,529 shares of the company’s stock after purchasing an additional 3,581 shares during the period. Teacher Retirement System of Texas’ holdings in Procore Technologies were worth $789,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in Procore Technologies by 92.1% in the fourth 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. Parkside Financial Bank & Trust boosted its stake in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 147 shares in the last quarter. V Square Quantitative Management LLC increased 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 buying an additional 162 shares in the last quarter. Hilltop National Bank purchased a new stake in Procore Technologies in the 4th quarter worth $53,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock valued at $54,000 after acquiring an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PCOR. Canaccord Genuity Group upped their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JMP Securities lifted their price objective on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 18th. KeyCorp raised their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Stifel Nicolaus boosted their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Piper Sandler boosted 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, February 14th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.24.

Procore Technologies Trading Down 3.7 %

Shares of Procore Technologies stock opened at $66.74 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company’s 50-day simple moving average is $75.77 and its 200-day simple moving average is $72.19. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of -92.70 and a beta of 0.85.

Procore Technologies (NYSE:PCOR) last announced 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). The company had revenue of $302.05 million during the quarter, compared to analyst estimates 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, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insider Buying and Selling

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $82.92, for a total value of $995,040.00. Following the completion of the transaction, the executive now owns 161,368 shares of the company’s stock, valued at $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction 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 completion of the sale, the director now directly owns 1,264,700 shares of the company’s stock, valued at approximately $93,107,214. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,604 shares of company stock worth $5,427,468 in the last three months. Corporate insiders own 29.00% of the company’s stock.

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.