37,843 Shares in Procore Technologies, Inc. (NYSE:PCOR) Purchased by Elwood Capital Partners LP

Elwood Capital Partners LP bought a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the fourth quarter, Holdings Channel.com reports. The fund bought 37,843 shares of the company’s stock, valued at approximately $2,836,000. Procore Technologies makes up about 2.8% of Elwood Capital Partners LP’s portfolio, making the stock its 10th largest position.

Several other institutional investors also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC raised its position in shares of Procore Technologies by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock valued at $1,199,000 after buying an additional 129 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares during the period. V Square Quantitative Management LLC raised its holdings in Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after acquiring an additional 162 shares in the last quarter. Versant Capital Management Inc raised its holdings in Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. Finally, CIBC Asset Management Inc lifted 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 worth $333,000 after acquiring an additional 234 shares during the period. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PCOR. Piper Sandler upped their target price on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. JMP Securities raised their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 18th. KeyCorp upped their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Stifel Nicolaus raised their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Buying and Selling

In other news, CFO Howard Fu sold 8,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the sale, the chief financial officer now owns 156,188 shares in the company, valued at $13,588,356. The trade was a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $17,480. This represents a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,604 shares of company stock worth $5,427,468 in the last quarter. Insiders own 29.00% of the company’s stock.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $66.13 on Tuesday. The business has a fifty day moving average of $75.55 and a 200-day moving average of $72.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The firm has a market cap of $9.91 billion, a PE ratio of -91.84 and a beta of 0.85.

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