Zurcher Kantonalbank Zurich Cantonalbank Buys 3,561 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 14.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 27,423 shares of the company’s stock after acquiring an additional 3,561 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Procore Technologies were worth $2,055,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PCOR. Atria Investments Inc boosted its holdings in Procore Technologies by 11.9% in the third quarter. Atria Investments Inc now owns 4,950 shares of the company’s stock valued at $306,000 after acquiring an additional 527 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Procore Technologies by 4.0% in the third quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock valued at $3,882,000 after buying an additional 2,432 shares during the period. KBC Group NV lifted its stake in Procore Technologies by 19.0% in the third quarter. KBC Group NV now owns 2,722 shares of the company’s stock valued at $168,000 after buying an additional 435 shares during the period. OneDigital Investment Advisors LLC lifted its stake in Procore Technologies by 6.9% in the third quarter. OneDigital Investment Advisors LLC now owns 5,213 shares of the company’s stock valued at $322,000 after buying an additional 336 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Procore Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after buying an additional 143 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Insider Transactions at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now owns 200 shares in the company, valued at $17,480. This represents a 84.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Howard Fu sold 1,190 shares of Procore Technologies stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.00, for a total value of $79,730.00. Following the completion of the transaction, the chief financial officer now owns 146,160 shares of the company’s stock, valued at approximately $9,792,720. This trade represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,657 shares of company stock worth $5,442,199. 29.00% of the stock is owned by company insiders.

Procore Technologies Stock Up 3.8 %

Shares of NYSE:PCOR opened at $68.28 on Monday. The company has a market capitalization of $10.24 billion, a PE ratio of -94.83 and a beta of 0.85. 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 has a fifty day moving average price of $77.06 and a two-hundred day moving average price of $71.23. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PCOR. Barclays boosted their price target on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Robert W. Baird boosted their price target on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. TD Cowen boosted their price target on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Macquarie dropped their price target on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Piper Sandler boosted their price target on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Four research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.24.

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.