Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN raised its position in Procore Technologies, Inc. (NYSE:PCOR) by 68.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 181,797 shares of the company’s stock after purchasing an additional 73,574 shares during the period. Wells Fargo & Company MN’s holdings in Procore Technologies were worth $13,622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Procore Technologies by 4.6% in the third quarter. FMR LLC now owns 17,939 shares of the company’s stock worth $1,107,000 after buying an additional 797 shares in the last quarter. State Street Corp lifted its stake in Procore Technologies by 13.2% in the 3rd quarter. State Street Corp now owns 1,810,895 shares of the company’s stock worth $111,768,000 after purchasing an additional 211,590 shares in the last quarter. Barclays PLC boosted its holdings in shares of Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company’s stock worth $4,259,000 after purchasing an additional 22,734 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Procore Technologies in the third quarter valued at approximately $250,000. Finally, Geode Capital Management LLC increased its holdings in shares of Procore Technologies by 10.9% in the third quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company’s stock valued at $105,967,000 after purchasing an additional 168,769 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Activity at Procore Technologies

In other news, CFO Howard Fu sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total transaction of $696,000.00. Following the sale, the chief financial officer now owns 156,188 shares of the company’s stock, valued at approximately $13,588,356. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $76.62, for a total value of $491,134.20. Following the completion of the transaction, the director now directly owns 1,250,598 shares of the company’s stock, valued at $95,820,818.76. This trade represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,176 shares of company stock valued at $5,486,304 over the last 90 days. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Price Performance

Shares of PCOR opened at $60.62 on Tuesday. The company has a market cap of $9.09 billion, a P/E ratio of -84.19 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. 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’s 50 day moving average price is $71.30 and its 200 day moving average price is $72.32.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data 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). 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, research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PCOR. JMP Securities upped their target price on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. DA Davidson dropped their price objective on shares of Procore Technologies from $80.00 to $60.00 and set a “neutral” rating for the company in a report on Monday. Jefferies Financial Group reduced their target price on shares of Procore Technologies from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Piper Sandler increased their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Macquarie reduced their price target on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.47.

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.