276,641 Shares in Procore Technologies, Inc. (NYSE:PCOR) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Procore Technologies, Inc. (NYSE:PCOR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 276,641 shares of the company’s stock, valued at approximately $20,729,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in shares of Procore Technologies by 1.7% during the fourth quarter. Arizona State Retirement System now owns 30,003 shares of the company’s stock valued at $2,248,000 after buying an additional 511 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Procore Technologies during the fourth quarter valued at approximately $831,000. M&T Bank Corp boosted its position in shares of Procore Technologies by 17.9% during the fourth quarter. M&T Bank Corp now owns 4,766 shares of the company’s stock valued at $358,000 after buying an additional 725 shares during the period. Atria Investments Inc boosted its position in shares of Procore Technologies by 35.5% during the fourth quarter. Atria Investments Inc now owns 6,705 shares of the company’s stock valued at $502,000 after buying an additional 1,755 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Procore Technologies by 4.0% during the fourth quarter. Assetmark Inc. now owns 83,352 shares of the company’s stock valued at $6,246,000 after buying an additional 3,206 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $68.28 on Monday. The business’s fifty day simple moving average is $77.06 and its 200-day simple moving average is $71.23. The company has a market cap of $10.24 billion, a PE ratio of -94.83 and a beta of 0.85. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, CRO Lawrence Joseph Stack sold 12,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares of the company’s stock, valued at $13,380,634.56. This represents a 6.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the transaction, the insider now directly owns 84,539 shares in the company, valued at approximately $6,440,181.02. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,657 shares of company stock valued at $5,442,199. Corporate insiders own 29.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PCOR. Stifel Nicolaus boosted their target price on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler boosted their target price on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. DA Davidson boosted their target price on Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Mizuho boosted their price target on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, TD Cowen boosted their price target on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Four 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

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.