Tidal Investments LLC raised its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 237.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,538 shares of the company's stock after buying an additional 12,346 shares during the period. Tidal Investments LLC's holdings in Procore Technologies were worth $1,082,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its holdings in shares of Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company's stock worth $259,000 after acquiring an additional 143 shares during the period. Tanager Wealth Management LLP grew its holdings in Procore Technologies by 1.2% in the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company's stock valued at $834,000 after purchasing an additional 150 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company's stock valued at $25,000 after buying an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC raised its stake in shares of Procore Technologies by 0.3% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company's stock worth $3,570,000 after buying an additional 180 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company's stock worth $42,000 after buying an additional 216 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of PCOR stock opened at $75.48 on Friday. The firm's 50-day simple moving average is $72.18 and its 200-day simple moving average is $65.56. 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, Inc. has a 1-year low of $49.46 and a 1-year high of $86.67. The firm has a market cap of $11.22 billion, a P/E ratio of -150.96 and a beta of 0.82.
Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. As a group, equities analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current year.
In related news, SVP William Fred Fleming, Jr. sold 15,000 shares of Procore Technologies stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the transaction, the senior vice president now owns 75,120 shares in the company, valued at approximately $5,314,740. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total value of $318,294.96. Following the completion of the sale, the director now owns 1,355,720 shares of the company's stock, valued at approximately $84,149,540.40. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,193 shares of company stock worth $10,364,826. 29.00% of the stock is owned by insiders.
PCOR has been the subject of several recent research reports. UBS Group started coverage on shares of Procore Technologies in a report on Monday, December 2nd. They set a "buy" rating and a $105.00 target price for the company. Piper Sandler raised their price objective on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Robert W. Baird upped their target price on Procore Technologies from $87.00 to $96.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. DA Davidson increased their target price on Procore Technologies from $60.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their price target on Procore Technologies from $65.00 to $70.00 and gave the stock a "hold" rating in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies presently has an average rating of "Moderate Buy" and an average price target of $84.24.
Get Our Latest Analysis on PCOR
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.
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