Procore Technologies, Inc. (NYSE:PCOR) is Long Path Partners LP’s 2nd Largest Position

Long Path Partners LP grew its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 43.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 513,551 shares of the company’s stock after purchasing an additional 155,501 shares during the period. Procore Technologies comprises 12.5% of Long Path Partners LP’s portfolio, making the stock its 2nd largest holding. Long Path Partners LP’s holdings in Procore Technologies were worth $38,480,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in Procore Technologies by 8.7% in the third quarter. The Manufacturers Life Insurance Company now owns 31,718 shares of the company’s stock worth $1,958,000 after purchasing an additional 2,538 shares in the last quarter. FMR LLC boosted its stake in shares of Procore Technologies by 4.6% during the 3rd quarter. FMR LLC now owns 17,939 shares of the company’s stock worth $1,107,000 after acquiring an additional 797 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Procore Technologies by 6.6% during the 3rd quarter. Townsquare Capital LLC now owns 12,882 shares of the company’s stock valued at $795,000 after acquiring an additional 793 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Procore Technologies by 5.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 258,304 shares of the company’s stock worth $15,943,000 after purchasing an additional 13,550 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after purchasing an additional 1,297,151 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PCOR. Barclays boosted their target price on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Mizuho raised their target price on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Piper Sandler upped their price target on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group lowered their price objective 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. Four research 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. According to MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Activity at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now owns 161,368 shares of the company’s stock, valued at $13,380,634.56. This trade represents a 6.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction on Monday, January 13th. The stock was sold at an average price of $73.62, for a total value of $377,523.36. Following the sale, the director now owns 1,264,700 shares in the company, valued at $93,107,214. This trade represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,604 shares of company stock valued at $5,427,468. 29.00% of the stock is owned by company insiders.

Procore Technologies Trading Up 2.0 %

PCOR opened at $68.96 on Thursday. The stock has a market cap of $10.34 billion, a PE ratio of -95.78 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 twelve month low of $49.46 and a twelve month high of $88.92. The company has a fifty day moving average of $75.13 and a 200-day moving average of $72.30.

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

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.