Allspring Global Investments Holdings LLC increased its stake in Procore Technologies (NYSE: PCOR – Free Report) by 85.8% during the first quarter, according to the latest filing with the Securities and Exchange Commission (SEC). The institutional investor bought an additional 353,794 shares during the period, giving it a total holding of 766,291 shares of the company’s stock. Allspring Global Investments Holdings LLC holds approximately 0.53% of Procore Technologies worth $62,966,000 as of the latest filing with the Securities and Exchange Commission (SEC).
Other large investors also modified their holdings in the stock. Ellsworth Advisors LLC increased its holdings in Procore Technologies by 3.0% in the fourth quarter. The firm now owns 5,901 shares of the company’s stock valued at $408,000 after purchasing an additional 170 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Procore Technologies by 5.7% in the fourth quarter. Venturi Wealth Management LLC now owns 7,557 shares of the company’s stock valued at $523,000 in the last quarter after purchasing an additional 408 shares in the last quarter. Richelieu Gestion SA increased its holdings in Procore Technologies by 1.6% in the first quarter. Richelieu Gestion SA now owns 26,001 shares of the company’s stock, valued at $2,137,000, after purchasing an additional 408 shares in the last quarter. Private Advisor Group LLC increased its holdings in Procore Technologies by 14.7% in the fourth quarter. Private Advisor Group LLC now owns 5,015 shares of the company’s stock, valued at $347,000, after purchasing an additional 641 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Procore Technologies by 10.5% in the fourth quarter. Fifth Third Bancorp now owns 6,900 shares of the company’s stock, valued at $478,000, after purchasing an additional 654 shares in the last quarter. 81.10% of the stock is now owned by hedge funds and other institutional investors.
Wall Street analysts predict growth
Several research analysts have recently commented on the company. DA Davidson reaffirmed their “buy” rating on shares of Procore Technologies with a $95.00 price target in a report on Thursday, March 14th. Piper Sandler lowered their price target on Procore Technologies from $80.00 to $77.00 and gave them an “overweight” rating in a report on Thursday, May 2nd. Macquarie assumed coverage on Procore Technologies in a report on Wednesday, June 5th. The firm issued a “neutral” rating and a $70.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and a $85.00 price target for Procore Technologies in a report on Tuesday, June 11th. Finally, Mizuho reaffirmed their “neutral” rating on shares of Procore Technologies and lowered their price target to $70.00 from $75.00 in a report on Tuesday, June 4th. Five analysts have rated the stock with a hold rating, and 12 have given it a buy rating. According to MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” with a consensus target price of $81.19.
Read our latest analysis on PCOR
Procore Technologies shares rose 2.7%
Procore Technologies shares opened trading at $67.98 on Wednesday. Procore Technologies has a 12-month low of $48.11 and a 12-month high of $83.35. The stock’s 50-day simple moving average is $67.26 and its 200-day simple moving average is $71.48. The company’s current ratio is 1.61, quick ratio is 1.60 and debt-to-equity ratio is 0.04. The company has a market capitalization of $9.95 billion, a P/E ratio of -70.81 and a beta of 0.75.
Procore Technologies (NYSE:PCOR – Get free report ) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a return on equity of -8.25% and a net margin of -13.64%. The company’s revenue for the quarter was $269.43 million, beating analyst estimates of $263.13 million. Equity analysts expect Procore Technologies to post earnings per share of -$0.35 for the current fiscal year.
Insider Trading at Procore Technologies
In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction value of $4,689,960.00. Following the sale, the CEO now owns 530,049 shares of the company’s stock, valued at $36,557,479.53. The transaction was disclosed in a Securities and Exchange Commission filing, which can be accessed through this hyperlink . In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction value of $4,689,960.00. Following the transaction, the CEO now owns 530,049 shares of the company’s stock, valued at $36,557,479.53. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through this link. Additionally, the CEO, Craig F. Jr. Courtemanche, sold 22,483 shares in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total value of $1,577,632.11. Following the completion of the transaction, the CEO will directly own 866,718 shares of the company’s stock, valued at approximately $60,817,602.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 233,964 shares of the company’s stock, valued at $16,011,712. 29.00% of the stock is now owned by insiders.
Procore Technologies Profile
(Free report)
Procore Technologies, Inc. is a provider of cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables owners, general contractors, specialty contractors, architects and engineers to collaborate on construction projects.
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