Procore Technologies, Inc. (NYSE:PCOR) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,032 shares of the company’s stock after acquiring an additional 3,689 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Procore Technologies were worth $3,602,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Procore Technologies by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock worth $557,746,000 after acquiring an additional 995,757 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Procore Technologies by 31.8% in the 3rd quarter. California Public Employees Retirement System now owns 139,326 shares of the company’s stock valued at $9,101,000 after purchasing an additional 33,590 shares during the period. Rhumbline Advisers boosted its position in shares of Procore Technologies by 1.9% in the 3rd quarter. Rhumbline Advisers now owns 111,137 shares of the company’s stock valued at $7,259,000 after purchasing an additional 2,073 shares during the period. Lisanti Capital Growth LLC acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at about $2,922,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at about $7,328,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. DA Davidson reissued a “buy” rating and issued a $95.00 target price on shares of Procore Technologies in a research report on Thursday, March 14th. JMP Securities upped their target price on Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. upped their target price on Procore Technologies from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group upped their price objective on Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, KeyCorp upped their price objective on Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.86.

Procore Technologies Stock Up 0.4 %

NYSE PCOR opened at $70.09 on Friday. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35. The business has a 50 day moving average price of $76.82 and a 200 day moving average price of $68.90. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. The firm had revenue of $260.04 million during the quarter, compared to the consensus estimate of $248.20 million. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $446,429.90. Following the sale, the senior vice president now owns 77,768 shares in the company, valued at approximately $5,747,055.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $4,821,679.40. Following the sale, the chief executive officer now owns 748,247 shares in the company, valued at approximately $55,295,453.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total value of $446,429.90. Following the sale, the senior vice president now owns 77,768 shares in the company, valued at approximately $5,747,055.20. The disclosure for this sale can be found here. Insiders sold 467,672 shares of company stock valued at $36,612,454 in the last ninety days. Corporate insiders own 39.20% of the company’s stock.

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.