New York State Common Retirement Fund Lowers Stake in Procore Technologies, Inc. (NYSE:PCOR)

New York State Common Retirement Fund reduced its position in Procore Technologies, Inc. (NYSE:PCOR) by 6.0% during the third quarter, Holdings Channel reports. The institutional investor owned 412,253 shares of the company’s stock after selling 26,446 shares during the quarter. New York State Common Retirement Fund’s holdings in Procore Technologies were worth $25,444,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Procore Technologies during the 3rd quarter worth about $26,000. Signaturefd LLC increased its holdings in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in Procore Technologies in the second quarter valued at approximately $51,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 3,846 shares of Procore Technologies stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $53.65, for a total transaction of $206,337.90. Following the transaction, the director now owns 1,444,313 shares in the company, valued at approximately $77,487,392.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Connor Kevin J. O sold 3,846 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total value of $206,337.90. Following the transaction, the director now directly owns 1,444,313 shares of the company’s stock, valued at approximately $77,487,392.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $160,091.98. Following the transaction, the senior vice president now directly owns 79,156 shares in the company, valued at approximately $4,681,285.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,748 shares of company stock valued at $5,661,056 over the last three months. Company insiders own 29.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PCOR. Scotiabank lowered their price target on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen boosted their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, October 28th. DA Davidson reissued a “neutral” rating and set a $60.00 target price on shares of Procore Technologies in a research note on Wednesday, October 2nd. Barclays boosted their target price on Procore Technologies from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Stifel Nicolaus dropped their price objective on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.94.

Procore Technologies Stock Performance

Shares of PCOR opened at $66.63 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a fifty day moving average of $60.10 and a 200-day moving average of $63.78. The company has a market cap of $9.84 billion, a price-to-earnings ratio of -133.26 and a beta of 0.71. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The company had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.55%. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.28 earnings per share for the current 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.