Tidal Investments LLC Grows Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Tidal Investments LLC raised its position in Procore Technologies, Inc. (NYSE:PCOR) by 237.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,538 shares of the company’s stock after buying an additional 12,346 shares during the period. Tidal Investments LLC’s holdings in Procore Technologies were worth $1,082,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PCOR. GAMMA Investing LLC boosted its holdings in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Procore Technologies in the 3rd quarter valued at approximately $26,000. Signaturefd LLC boosted its stake in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after buying an additional 216 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Procore Technologies during the second quarter worth approximately $51,000. Finally, International Assets Investment Management LLC increased its stake in shares of Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PCOR shares. Scotiabank raised their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a report on Friday, November 22nd. TD Cowen increased their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Piper Sandler upped their price objective on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Baird R W upgraded Procore Technologies to a “strong-buy” rating in a report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $84.24.

Insider Buying and Selling at Procore Technologies

In other news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the sale, the chief executive officer now owns 770,458 shares in the company, valued at $54,979,882.88. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total transaction of $318,294.96. Following the transaction, the director now owns 1,355,720 shares of the company’s stock, valued at approximately $84,149,540.40. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,193 shares of company stock valued at $10,364,826 in the last quarter. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Stock Down 0.4 %

PCOR stock opened at $75.48 on Friday. The stock has a market cap of $11.22 billion, a PE ratio of -150.96 and a beta of 0.82. The firm’s 50-day simple moving average is $72.18 and its 200 day simple moving average is $65.56. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. 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 (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, sell-side analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current 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.