Massmutual Trust Co. FSB ADV Has $340,000 Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Massmutual Trust Co. FSB ADV increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 27,500.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,140 shares of the company’s stock after acquiring an additional 4,125 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Procore Technologies were worth $340,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cerity Partners LLC boosted its position in Procore Technologies by 4,290.2% during the 4th quarter. Cerity Partners LLC now owns 1,334,194 shares of the company’s stock worth $92,353,000 after acquiring an additional 1,303,804 shares during the period. Vanguard Group Inc. lifted its position in shares of Procore Technologies by 13.2% in the third quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock worth $557,746,000 after purchasing an additional 995,757 shares in the last quarter. Norges Bank acquired a new stake in shares of Procore Technologies during the fourth quarter worth approximately $68,005,000. Robeco Schweiz AG purchased a new position in Procore Technologies during the fourth quarter valued at approximately $60,914,000. Finally, Westfield Capital Management Co. LP acquired a new position in Procore Technologies in the 4th quarter valued at approximately $60,295,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Activity at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 3,000 shares of Procore Technologies stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $82.15, for a total value of $246,450.00. Following the transaction, the insider now directly owns 125,321 shares of the company’s stock, valued at approximately $10,295,120.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $81.30, for a total value of $5,528,400.00. Following the completion of the sale, the chief executive officer now owns 531,399 shares in the company, valued at $43,202,738.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin C. Singer sold 3,000 shares of Procore Technologies stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $82.15, for a total value of $246,450.00. Following the sale, the insider now directly owns 125,321 shares in the company, valued at $10,295,120.15. The disclosure for this sale can be found here. Insiders sold a total of 302,576 shares of company stock worth $21,709,095 in the last 90 days. 29.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Procore Technologies in a research note on Wednesday, June 12th. They set a “buy” rating and a $85.00 target price for the company. DA Davidson restated a “buy” rating and issued a $95.00 target price on shares of Procore Technologies in a research note on Thursday, March 14th. JPMorgan Chase & Co. upped their target price on Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Piper Sandler reduced their price target on Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $85.00 price objective on shares of Procore Technologies in a report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and an average target price of $80.94.

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $63.56 on Friday. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35. The firm has a fifty day simple moving average of $68.59 and a 200-day simple moving average of $71.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The firm had revenue of $269.43 million during the quarter, compared to analyst estimates of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. As a group, research analysts expect that Procore Technologies, Inc. will post -0.35 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.