Bryce Point Capital LLC Makes New Investment in Procore Technologies, Inc. (NYSE:PCOR)

Bryce Point Capital LLC acquired a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,370 shares of the company’s stock, valued at approximately $1,751,000. Procore Technologies comprises about 0.5% of Bryce Point Capital LLC’s holdings, making the stock its 29th biggest holding.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays increased their price target on shares of Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. JMP Securities increased their target price on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Stifel Nicolaus increased their price objective on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Macquarie cut their price objective on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.65.

Procore Technologies Stock Up 2.5 %

Shares of Procore Technologies stock opened at $67.68 on Wednesday. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. 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 company has a 50-day moving average of $75.34 and a 200 day moving average of $72.32. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of -94.00 and a beta of 0.85.

Procore Technologies (NYSE:PCOR) last released its 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). The business had revenue of $302.05 million for the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 5,128 shares of the company’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 transaction, the director now directly owns 1,226,240 shares of the company’s stock, valued at $82,280,704. This represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Howard Fu sold 1,447 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $68.79, for a total transaction of $99,539.13. Following the transaction, the chief financial officer now 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. Over the last three months, insiders have sold 69,604 shares of company stock valued at $5,427,468. 29.00% of the stock is currently owned by corporate 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.