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

Long Path Partners LP grew its position in Procore Technologies, Inc. (NYSE:PCOR) by 43.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 513,551 shares of the company’s stock after acquiring an additional 155,501 shares during the period. Procore Technologies comprises approximately 12.5% of Long Path Partners LP’s investment portfolio, making the stock its 2nd biggest position. Long Path Partners LP owned approximately 0.35% of Procore Technologies worth $38,480,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its holdings in Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares during the last quarter. Huntington National Bank raised its position in shares of Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after purchasing an additional 404 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in Procore Technologies in the 4th quarter valued at about $53,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Stock Up 2.0 %

PCOR stock opened at $68.96 on Thursday. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The firm has a fifty day moving average price of $75.13 and a two-hundred day moving average price of $72.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of -95.78 and a beta of 0.85.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results 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 firm had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PCOR shares. UBS Group raised their target price on Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Piper Sandler upped their target price on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Robert W. Baird raised their price target on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Barclays upped their price objective on shares of Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, KeyCorp raised their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Activity at Procore Technologies

In other news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $67.10, for a total transaction of $344,088.80. Following the completion of the sale, the director now directly owns 1,226,240 shares of the company’s stock, valued at $82,280,704. This trade represents a 0.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Howard Fu sold 1,447 shares of Procore Technologies stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $68.79, for a total value of $99,539.13. Following the completion of the transaction, the chief financial officer now directly owns 144,713 shares in the company, valued at $9,954,807.27. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,604 shares of company stock worth $5,427,468 in the last three months. 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.