Trexquant Investment LP Has $3.53 Million Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Trexquant Investment LP increased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,058 shares of the company’s stock after acquiring an additional 3,474 shares during the quarter. Trexquant Investment LP’s holdings in Procore Technologies were worth $3,534,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PCOR. Vanguard Group Inc. lifted its stake in shares of Procore Technologies by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock valued at $557,746,000 after purchasing an additional 995,757 shares during the period. JPMorgan Chase & Co. lifted its stake in Procore Technologies by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 4,744,726 shares of the company’s stock valued at $309,926,000 after buying an additional 114,649 shares during the period. Cadian Capital Management LP boosted its holdings in shares of Procore Technologies by 9.1% during the 3rd quarter. Cadian Capital Management LP now owns 3,026,123 shares of the company’s stock worth $197,666,000 after buying an additional 253,000 shares in the last quarter. Invesco Ltd. grew its position in shares of Procore Technologies by 32.8% during the 3rd quarter. Invesco Ltd. now owns 2,398,257 shares of the company’s stock worth $156,654,000 after buying an additional 592,318 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of Procore Technologies by 4,290.2% in the 4th quarter. Cerity Partners LLC now owns 1,334,194 shares of the company’s stock valued at $92,353,000 after acquiring an additional 1,303,804 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PCOR shares. Stifel Nicolaus upped their price objective on shares of Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 16th. Barclays decreased their price objective on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on Procore Technologies from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. The Goldman Sachs Group upped their price target on Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Piper Sandler dropped their price objective on Procore Technologies from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.79.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $68.20 on Friday. The company has a market capitalization of $9.98 billion, a P/E ratio of -71.04 and a beta of 0.78. The company’s 50-day moving average is $73.70 and its 200 day moving average is $69.66. 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, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.15. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The business had revenue of $269.43 million for the quarter, compared to analyst estimates of $263.13 million. On average, equities research analysts forecast that Procore Technologies, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP William Fred Fleming, Jr. sold 5,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $77.25, for a total transaction of $386,250.00. Following the completion of the transaction, the senior vice president now owns 74,521 shares in the company, valued at approximately $5,756,747.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP William Fred Fleming, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $77.25, for a total value of $386,250.00. Following the sale, the senior vice president now owns 74,521 shares of the company’s stock, valued at $5,756,747.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $69.43, for a total transaction of $356,037.04. Following the completion of the transaction, the director now directly owns 1,478,927 shares of the company’s stock, valued at $102,681,901.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 432,470 shares of company stock valued at $33,619,272. 39.20% of the stock is owned by company insiders.

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.