Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. decreased its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 33.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,368 shares of the company’s stock after selling 2,692 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Procore Technologies were worth $402,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Long Path Partners LP raised its position in shares of Procore Technologies by 43.4% during the fourth quarter. Long Path Partners LP now owns 513,551 shares of the company’s stock worth $38,480,000 after purchasing an additional 155,501 shares during the period. Cinctive Capital Management LP acquired a new stake in Procore Technologies during the 4th quarter worth about $824,000. Bryce Point Capital LLC purchased a new stake in Procore Technologies during the fourth quarter valued at about $1,751,000. Huntington National Bank lifted its stake in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after buying an additional 404 shares in the last quarter. Finally, Elwood Capital Partners LP acquired a new position in shares of Procore Technologies in the fourth quarter worth about $2,836,000. Institutional investors own 81.10% of the company’s stock.

Insider Activity at Procore Technologies

In related news, CFO Howard Fu sold 1,447 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $68.79, for a total transaction of $99,539.13. Following the completion of the sale, the chief financial officer now owns 144,713 shares in the company, valued at $9,954,807.27. This represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the transaction, the insider now directly owns 200 shares in the company, valued at approximately $17,480. This represents a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,604 shares of company stock worth $5,427,468. 29.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PCOR has been the subject of several research analyst reports. UBS Group upped their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus raised their target price on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group dropped their price target on Procore Technologies from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Mizuho increased their price objective on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Macquarie lowered their target price on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. 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 MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $58.00 on Tuesday. 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 stock has a market capitalization of $8.70 billion, a P/E ratio of -80.56 and a beta of 0.90. The business has a 50-day moving average of $73.96 and a two-hundred day moving average of $72.42. 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 announced its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $297.72 million. On average, equities research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Procore Technologies 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.