Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 27,906 Procore Technologies, Inc. (NYSE:PCOR)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,906 shares of the company’s stock, valued at approximately $1,722,000.

A number of other institutional investors have also bought and sold shares of PCOR. ShawSpring Partners LLC raised its position in shares of Procore Technologies by 493.3% in the 3rd quarter. ShawSpring Partners LLC now owns 1,438,082 shares of the company’s stock worth $88,758,000 after acquiring an additional 1,195,675 shares in the last quarter. Townsquare Capital LLC increased its holdings in Procore Technologies by 6.6% in the third quarter. Townsquare Capital LLC now owns 12,882 shares of the company’s stock worth $795,000 after purchasing an additional 793 shares in the last quarter. FMR LLC lifted its stake in Procore Technologies by 4.6% in the third quarter. FMR LLC now owns 17,939 shares of the company’s stock valued at $1,107,000 after buying an additional 797 shares during the period. Advantage Alpha Capital Partners LP boosted its holdings in shares of Procore Technologies by 30.2% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock worth $7,825,000 after buying an additional 29,431 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Procore Technologies by 8.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 31,718 shares of the company’s stock worth $1,958,000 after buying an additional 2,538 shares during the period. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $81.20 on Monday. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $83.35. The company has a market cap of $12.07 billion, a P/E ratio of -162.40 and a beta of 0.71. The firm has a 50-day moving average of $66.45 and a 200-day moving average of $64.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $295.89 million for the quarter, compared to analysts’ expectations 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 forecast that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Scotiabank increased their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Barclays boosted their target price on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Canaccord Genuity Group upped their price target on Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Baird R W raised Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $58.48, for a total transaction of $299,885.44. Following the completion of the transaction, the director now directly owns 1,360,848 shares of the company’s stock, valued at approximately $79,582,391.04. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn Bueker sold 6,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $78.01, for a total value of $507,065.00. Following the completion of the sale, the director now owns 23,932 shares in the company, valued at approximately $1,866,935.32. The trade was a 21.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,553 shares of company stock worth $7,933,974. 29.00% of the stock is owned by company insiders.

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.