Robinhood Asset Management LLC Buys Shares of 98,106 Procore Technologies, Inc. $PCOR

Robinhood Asset Management LLC purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 98,106 shares of the company’s stock, valued at approximately $7,136,000. Robinhood Asset Management LLC owned approximately 0.06% of Procore Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hanson & Doremus Investment Management boosted its position in shares of Procore Technologies by 3.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 30,825 shares of the company’s stock worth $2,242,000 after purchasing an additional 952 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Procore Technologies by 6.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 662,928 shares of the company’s stock valued at $46,431,000 after buying an additional 41,816 shares during the last quarter. First Bank & Trust raised its stake in Procore Technologies by 5.4% in the fourth quarter. First Bank & Trust now owns 6,506 shares of the company’s stock valued at $473,000 after buying an additional 331 shares during the last quarter. Curated Wealth Partners LLC boosted its holdings in Procore Technologies by 11.3% in the fourth quarter. Curated Wealth Partners LLC now owns 3,749 shares of the company’s stock worth $273,000 after acquiring an additional 382 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Procore Technologies by 556.5% during the fourth quarter. SG Americas Securities LLC now owns 10,353 shares of the company’s stock worth $753,000 after acquiring an additional 8,776 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In other news, Director Connor Kevin J. O sold 9,615 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $54.48, for a total transaction of $523,825.20. Following the sale, the director directly owned 1,012,136 shares in the company, valued at $55,141,169.28. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Craig F. Jr. Courtemanche sold 56,121 shares of Procore Technologies stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $57.23, for a total value of $3,211,804.83. Following the completion of the transaction, the chairman owned 927,580 shares of the company’s stock, valued at approximately $53,085,403.40. This represents a 5.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 93,827 shares of company stock valued at $5,310,132. Corporate insiders own 21.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PCOR shares. Stifel Nicolaus reduced their price objective on Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, February 13th. BMO Capital Markets cut their price target on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. DA Davidson reduced their price target on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Canaccord Genuity Group decreased their price objective on shares of Procore Technologies from $90.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, UBS Group cut their price objective 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. Sixteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.33.

Procore Technologies Trading Down 1.3%

Shares of NYSE:PCOR opened at $57.24 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 12-month low of $46.08 and a 12-month high of $82.32. The business has a 50 day moving average of $55.46 and a two-hundred day moving average of $66.90. The company has a market capitalization of $8.59 billion, a PE ratio of -85.44 and a beta of 0.85.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping 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 business had revenue of $349.11 million for the quarter, compared to analysts’ expectations of $340.80 million. During the same quarter last year, the company earned $0.01 EPS. The business’s revenue was up 15.6% on a year-over-year basis. As a group, analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

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. 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.