Procore Technologies, Inc. (NYSE:PCOR) Holdings Decreased by XTX Topco Ltd

XTX Topco Ltd cut its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 88.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,098 shares of the company’s stock after selling 31,805 shares during the quarter. XTX Topco Ltd’s holdings in Procore Technologies were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PCOR. Chicago Partners Investment Group LLC grew 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 during the last quarter. Parkside Financial Bank & Trust grew its position in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the last quarter. V Square Quantitative Management LLC increased its stake 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 purchasing an additional 162 shares during the period. Versant Capital Management Inc raised its holdings 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 buying an additional 175 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Procore Technologies by 15.1% during the fourth quarter. Covestor Ltd now owns 1,571 shares of the company’s stock worth $118,000 after buying an additional 206 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Shares of NYSE PCOR opened at $62.93 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of -87.40 and a beta of 0.90. The stock’s fifty day simple moving average is $68.24 and its 200 day simple moving average is $72.12.

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 firm had revenue of $302.05 million during the quarter, compared to analysts’ expectations of $297.72 million. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on PCOR shares. Canaccord Genuity Group raised their target price on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, February 14th. DA Davidson lowered their price target on Procore Technologies from $80.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. KeyCorp lowered their target price on shares of Procore Technologies from $96.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, JMP Securities upped their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.18.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $77.33, for a total transaction of $495,685.30. Following the completion of the sale, the director now directly owns 1,244,188 shares in the company, valued at approximately $96,213,058.04. This trade represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were 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 owns 200 shares in the company, valued at $17,480. This trade represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,482 shares of company stock valued at $4,952,759. Corporate insiders own 29.00% of the company’s stock.

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.