BNP Paribas Buys 620 Shares of Procore Technologies, Inc. (NYSE:PCOR)

BNP Paribas lifted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 24.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,184 shares of the company’s stock after buying an additional 620 shares during the quarter. BNP Paribas’ holdings in Procore Technologies were worth $239,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the period. Parkside Financial Bank & Trust increased its stake 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 purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% during the 4th 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. Huntington National Bank lifted its stake in shares of Procore Technologies by 161.6% during the 4th 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, Hilltop National Bank bought a new position in Procore Technologies in the 4th quarter worth $53,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JMP Securities raised their price target on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. Stifel Nicolaus lowered their price target on Procore Technologies from $93.00 to $75.00 and set a “buy” rating on the stock in a report on Friday. Jefferies Financial Group cut their price objective on shares of Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a report on Monday, March 31st. Mizuho reduced their price objective on shares of Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Finally, Scotiabank dropped their target price on shares of Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 24th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.24.

Insider Transactions at Procore Technologies

In other news, CFO Howard Fu sold 1,480 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $60.02, for a total value of $88,829.60. Following the sale, the chief financial officer now directly owns 206,704 shares in the company, valued at approximately $12,406,374.08. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin C. Singer sold 6,937 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $83.60, for a total value of $579,933.20. Following the transaction, the insider now owns 72,110 shares of the company’s stock, valued at approximately $6,028,396. The trade was a 8.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,962 shares of company stock worth $5,041,588. 29.00% of the stock is currently owned by insiders.

Procore Technologies Trading Up 2.8 %

Shares of NYSE PCOR opened at $64.95 on Monday. 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 business’s 50 day moving average is $65.91 and its two-hundred day moving average is $72.35. The stock has a market capitalization of $9.69 billion, a P/E ratio of -90.21 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $310.63 million for the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

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.