Y Intercept Hong Kong Ltd Invests $1.39 Million in Procore Technologies, Inc. (NYSE:PCOR)

Y Intercept Hong Kong Ltd purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the 4th quarter, HoldingsChannel reports. The fund purchased 18,569 shares of the company’s stock, valued at approximately $1,391,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC increased its holdings in Procore Technologies by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock valued at $1,199,000 after purchasing an additional 129 shares in the last quarter. CIBC Asset Management Inc increased its holdings 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 purchasing an additional 143 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after acquiring an additional 162 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in shares of Procore Technologies by 6.9% during the third quarter. OneDigital Investment Advisors LLC now owns 5,213 shares of the company’s stock valued at $322,000 after acquiring an additional 336 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Trading Down 1.9 %

Procore Technologies stock opened at $78.91 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of -109.59 and a beta of 0.84. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The firm’s 50 day moving average price is $78.13 and its two-hundred day moving average price is $69.98.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of Procore Technologies stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the transaction, the director now directly owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now owns 161,368 shares in the company, valued at approximately $13,380,634.56. This represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,311 shares of company stock worth $7,720,903. 29.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Piper Sandler increased their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Mizuho increased their price target 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. UBS Group increased their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, KeyCorp increased their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $89.94.

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.