Gavilan Investment Partners LLC Grows Position in Procore Technologies, Inc. (NYSE:PCOR)

Gavilan Investment Partners LLC lifted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 22.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 295,000 shares of the company’s stock after acquiring an additional 55,000 shares during the quarter. Procore Technologies makes up about 6.1% of Gavilan Investment Partners LLC’s portfolio, making the stock its 9th biggest holding. Gavilan Investment Partners LLC owned 0.20% of Procore Technologies worth $22,104,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc raised 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 valued at $27,000 after acquiring an additional 175 shares during the period. 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 during the period. V Square Quantitative Management LLC lifted its holdings in 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 boosted its stake in Procore Technologies by 161.6% in the 4th 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 acquired a new position in Procore Technologies in the 4th quarter valued at $53,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 of the company’s stock, valued at approximately $9,954,807.27. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the sale, the insider now owns 200 shares in the company, valued at approximately $17,480. The trade was a 84.30 % 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 valued at $5,427,468 over the last ninety days. 29.00% of the stock is owned by company insiders.

Procore Technologies Trading Down 8.0 %

PCOR opened at $57.11 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The company’s 50 day moving average price is $74.39 and its two-hundred day moving average price is $72.33. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of -79.32 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. KeyCorp boosted their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Macquarie decreased their target price on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Robert W. Baird raised their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Jefferies Financial Group cut their price target on Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Mizuho raised their price objective on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

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.