Dnca Finance Grows Holdings in Procore Technologies, Inc. $PCOR

Dnca Finance raised its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 60.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,050 shares of the company’s stock after purchasing an additional 25,650 shares during the quarter. Dnca Finance’s holdings in Procore Technologies were worth $4,962,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC raised its position in shares of Procore Technologies by 465.2% during the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after purchasing an additional 321 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Procore Technologies in the third quarter worth about $34,000. Jones Financial Companies Lllp boosted its stake in shares of Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 199 shares during the period. First Horizon Corp purchased a new stake in shares of Procore Technologies during the third quarter worth about $49,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Procore Technologies during the third quarter worth about $57,000. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BTIG Research reissued a “buy” rating and issued a $66.00 target price on shares of Procore Technologies in a report on Wednesday. The Goldman Sachs Group cut their target price on shares of Procore Technologies from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, February 9th. UBS Group decreased their price target on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Piper Sandler dropped their price objective on shares of Procore Technologies from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Finally, Barclays reduced their target price on Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and an average price target of $77.05.

Procore Technologies Trading Up 0.2%

Shares of PCOR opened at $57.13 on Friday. The company’s fifty day moving average is $59.45 and its 200 day moving average is $68.31. Procore Technologies, Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $82.32. The stock has a market capitalization of $8.58 billion, a PE ratio of -85.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.32.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The company had revenue of $349.11 million for the quarter, compared to the consensus estimate of $340.80 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Procore Technologies’s revenue was up 15.6% on a year-over-year basis. Sell-side analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,121 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $57.23, for a total transaction of $3,211,804.83. Following the sale, the chairman directly owned 927,580 shares of the company’s stock, valued at $53,085,403.40. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin C. Singer sold 4,225 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total value of $211,250.00. Following the sale, the insider directly owned 64,660 shares in the company, valued at $3,233,000. The trade was a 6.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 377,911 shares of company stock valued at $25,881,654 over the last quarter. 21.50% of the stock is owned by corporate insiders.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.