Pier Capital LLC Sells 658 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Pier Capital LLC reduced its stake in Procore Technologies, Inc. (NYSE:PCOR) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,235 shares of the company’s stock after selling 658 shares during the quarter. Pier Capital LLC owned about 0.05% of Procore Technologies worth $6,012,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Diversified Trust Co grew its position in shares of Procore Technologies by 157.1% in the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock valued at $3,795,000 after purchasing an additional 30,948 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Procore Technologies by 39.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock valued at $59,635,000 after purchasing an additional 272,030 shares during the period. US Bancorp DE grew its holdings in Procore Technologies by 18.8% in the 4th quarter. US Bancorp DE now owns 21,416 shares of the company’s stock valued at $1,605,000 after buying an additional 3,390 shares in the last quarter. Raymond James Financial Inc. bought a new position in Procore Technologies during the 4th quarter worth $20,729,000. Finally, Barclays PLC lifted its holdings in shares of Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock worth $4,259,000 after buying an additional 22,734 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PCOR. Stifel Nicolaus upped their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. KeyCorp increased their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. UBS Group lifted their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Canaccord Genuity Group raised their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Four 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 stock. According to data from MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

Procore Technologies Trading Up 2.4 %

PCOR opened at $72.07 on Tuesday. The company has a market cap of $10.81 billion, a P/E ratio of -100.10 and a beta of 0.85. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $76.34 and its 200-day moving average is $71.76. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, CRO Lawrence Joseph Stack sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $82.92, for a total value of $995,040.00. Following the completion of the transaction, the executive now owns 161,368 shares in the company, valued at $13,380,634.56. This trade represents a 6.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now directly owns 200 shares in the company, valued at $17,480. The trade was a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,604 shares of company stock valued at $5,427,468 in the last 90 days. 29.00% of the stock is owned by corporate insiders.

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.