NZS Capital LLC Has $29.49 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

NZS Capital LLC lowered its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 13.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 393,582 shares of the company’s stock after selling 61,066 shares during the quarter. NZS Capital LLC owned about 0.26% of Procore Technologies worth $29,491,000 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 the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of Procore Technologies in the 4th quarter valued at approximately $10,345,000. Science & Technology Partners L.P. bought a new position in Procore Technologies in the fourth quarter valued at approximately $25,558,000. Integrated Wealth Concepts LLC acquired a new position in Procore Technologies during the fourth quarter valued at approximately $221,000. Tenere Capital LLC bought a new stake in Procore Technologies during the fourth quarter worth $5,163,000. Finally, Manchester Global Management UK Ltd boosted its holdings in shares of Procore Technologies by 22.3% in the 4th quarter. Manchester Global Management UK Ltd now owns 431,603 shares of the company’s stock valued at $32,340,000 after purchasing an additional 78,783 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $63.80 on Friday. The stock has a market capitalization of $9.57 billion, a PE ratio of -88.61 and a beta of 0.90. The business’s 50 day simple moving average is $67.74 and its 200 day simple moving average is $72.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PCOR shares. Canaccord Genuity Group upped their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. KeyCorp reduced their price target 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, April 21st. JMP Securities lifted their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. UBS Group dropped their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday. Finally, DA Davidson decreased their target price on shares of Procore Technologies from $80.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.18.

Insiders Place Their Bets

In other news, insider Benjamin C. Singer sold 6,937 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $83.60, for a total transaction of $579,933.20. Following the completion of the sale, the insider now owns 72,110 shares of the company’s stock, valued at $6,028,396. This trade represents a 8.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the transaction, the insider now owns 200 shares in the company, valued at $17,480. The trade was a 84.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,962 shares of company stock worth $5,041,588. Company 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.