GAMMA Investing LLC Boosts Holdings in Procore Technologies, Inc. (NYSE:PCOR)

GAMMA Investing LLC grew its position in Procore Technologies, Inc. (NYSE:PCOR) by 84.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 746 shares of the company’s stock after acquiring an additional 342 shares during the quarter. GAMMA Investing LLC’s holdings in Procore Technologies were worth $56,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Dragoneer Investment Group LLC increased its stake in Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after purchasing an additional 1,609,607 shares during the period. Wasatch Advisors LP increased its stake in shares of Procore Technologies by 27,239.5% during the third quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after buying an additional 1,575,534 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Procore Technologies in the 3rd quarter valued at about $88,572,000. XN LP lifted its position in shares of Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after purchasing an additional 1,411,812 shares during the period. Finally, PointState Capital LP bought a new position in shares of Procore Technologies during the third quarter valued at approximately $81,306,000. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Price Performance

NYSE:PCOR opened at $75.00 on Monday. The company has a 50 day moving average price of $76.41 and a 200-day moving average price of $66.87. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $86.67. The firm has a market cap of $11.15 billion, a price-to-earnings ratio of -150.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The business had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Equities research analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PCOR. UBS Group began coverage on shares of Procore Technologies in a research note on Monday, December 2nd. They issued a “buy” rating and a $105.00 price objective for the company. DA Davidson lifted their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Canaccord Genuity Group increased their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Baird R W raised Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, JMP Securities boosted their price objective on shares of Procore Technologies from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Monday, December 2nd. Four 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 stock. Based on data from MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Buying and Selling

In other Procore Technologies news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the sale, the insider now directly owns 84,539 shares in the company, valued at $6,440,181.02. This represents a 1.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the business’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 completion of the transaction, the director now owns 1,355,720 shares in the company, valued at $84,149,540.40. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,693 shares of company stock worth $10,479,096. 29.00% of the stock is owned by corporate insiders.

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.