JPMorgan Chase & Co. Has $132.38 Million Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

JPMorgan Chase & Co. lifted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 20.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,766,675 shares of the company’s stock after acquiring an additional 304,396 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.19% of Procore Technologies worth $132,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PCOR. Chicago Partners Investment Group LLC increased its position in shares of Procore Technologies by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after purchasing an additional 129 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC raised its position in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after acquiring an additional 162 shares in the last quarter. Versant Capital Management Inc lifted its stake in Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Procore Technologies by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 4,438 shares of the company’s stock valued at $333,000 after acquiring an additional 234 shares during the period. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Up 2.5 %

PCOR stock opened at $67.68 on Wednesday. The company has a market cap of $10.15 billion, a PE ratio of -94.00 and a beta of 0.85. 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, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The business has a 50-day simple moving average of $75.34 and a 200 day simple moving average of $72.32.

Procore Technologies (NYSE:PCOR) last issued its quarterly 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 firm had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Jefferies Financial Group cut their price objective on Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Monday. Robert W. Baird boosted their target price on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Piper Sandler raised their price target on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Transactions at Procore Technologies

In related news, CFO Howard Fu sold 1,447 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $68.79, for a total transaction of $99,539.13. Following the completion of the transaction, the chief financial officer now directly owns 144,713 shares in the company, valued at $9,954,807.27. This represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.41, for a total transaction of $345,678.48. Following the completion of the transaction, the director now directly owns 1,215,984 shares of the company’s stock, valued at approximately $81,969,481.44. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,604 shares of company stock valued at $5,427,468. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Company 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.