Caprock Group LLC Has $311,000 Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Caprock Group LLC lessened its stake in Procore Technologies, Inc. (NYSE:PCOR) by 71.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,037 shares of the company’s stock after selling 12,735 shares during the quarter. Caprock Group LLC’s holdings in Procore Technologies were worth $311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC increased its position in Procore Technologies by 16.9% in the 2nd quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock valued at $580,000 after acquiring an additional 1,266 shares in the last quarter. M&G Plc grew its holdings in Procore Technologies by 12.4% during the second quarter. M&G Plc now owns 120,626 shares of the company’s stock valued at $7,961,000 after purchasing an additional 13,334 shares during the period. Burney Co. acquired a new position in Procore Technologies during the first quarter valued at approximately $1,371,000. SG Americas Securities LLC grew its holdings in Procore Technologies by 118.0% during the second quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock valued at $1,158,000 after purchasing an additional 9,454 shares during the period. Finally, Dragoneer Investment Group LLC grew its holdings in Procore Technologies by 254.0% during the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PCOR. JMP Securities decreased their price objective on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. BMO Capital Markets boosted their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday. Robert W. Baird assumed coverage on shares of Procore Technologies in a report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price objective for the company. DA Davidson lifted their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Jefferies Financial Group lifted their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

Insider Buying and Selling

In related news, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s 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 directly owns 75,120 shares in the company, valued at approximately $5,314,740. The trade was a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 8,974 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total transaction of $521,030.44. Following the transaction, the director now owns 1,371,104 shares in the company, valued at approximately $79,606,298.24. The trade was a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,053 shares of company stock worth $7,426,909. Insiders own 29.00% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $76.68 on Friday. The company’s fifty day simple moving average is $64.19 and its 200-day simple moving average is $63.94. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $11.40 billion, a PE ratio of -153.36 and a beta of 0.71. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Equities research analysts expect that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

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.