Y Intercept Hong Kong Ltd Takes $1.39 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Y Intercept Hong Kong Ltd acquired a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,569 shares of the company’s stock, valued at approximately $1,391,000.

Other institutional investors have also modified their holdings of the company. Creative Planning purchased a new position in Procore Technologies in the third quarter valued at $234,000. Raymond James & Associates boosted its holdings in Procore Technologies by 3.0% in the third quarter. Raymond James & Associates now owns 47,982 shares of the company’s stock valued at $2,961,000 after purchasing an additional 1,386 shares during the period. International Assets Investment Management LLC boosted its holdings in Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Procore Technologies by 120.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,279 shares of the company’s stock valued at $511,000 after purchasing an additional 4,531 shares during the period. Finally, Smith Group Asset Management LLC purchased a new position in Procore Technologies in the third quarter valued at $280,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Procore Technologies

In related news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the sale, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 33,332 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total value of $2,730,890.76. Following the completion of the sale, the director now directly owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. The trade was a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,311 shares of company stock worth $7,720,903 in the last quarter. Company insiders own 29.00% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $78.91 on Wednesday. The stock has a market capitalization of $11.73 billion, a PE ratio of -109.59 and a beta of 0.84. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The stock’s 50-day moving average price is $78.13 and its 200 day moving average price is $69.98. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, equities research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PCOR shares. Canaccord Genuity Group lifted their target price on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a report on Friday, February 14th. The Goldman Sachs Group lifted their price target on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. KeyCorp lifted their price target on Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. BMO Capital Markets lifted their price target on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Scotiabank lifted their price target on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $89.94.

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.