Alliancebernstein L.P. Grows Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Alliancebernstein L.P. grew its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 474.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,409,499 shares of the company’s stock after purchasing an additional 1,164,074 shares during the quarter. Alliancebernstein L.P.’s holdings in Procore Technologies were worth $105,614,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PCOR. Versant Capital Management Inc boosted 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 buying an additional 175 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 147 shares during the last quarter. V Square Quantitative Management LLC boosted 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 worth $44,000 after acquiring an additional 162 shares during the last quarter. Hilltop National Bank purchased a new stake in Procore Technologies in the fourth quarter valued at approximately $53,000. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after purchasing an additional 674 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $73.62, for a total transaction of $377,523.36. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Fu sold 1,190 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.00, for a total value of $79,730.00. Following the sale, the chief financial officer now owns 146,160 shares in the company, valued at $9,792,720. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,604 shares of company stock worth $5,427,468. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Stock Performance

NYSE:PCOR opened at $68.96 on Thursday. The stock has a market cap of $10.34 billion, a P/E ratio of -95.78 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 company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a 50-day moving average of $75.13 and a two-hundred day moving average of $72.30.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. On average, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Macquarie lowered their price target on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. 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. Robert W. Baird lifted their price objective on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, Piper Sandler increased their target price 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. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.65.

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.