Parnassus Investments LLC Trims Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Parnassus Investments LLC trimmed its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,761 shares of the company’s stock after selling 4,813 shares during the quarter. Parnassus Investments LLC owned approximately 0.11% of Procore Technologies worth $12,046,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PCOR. Versant Capital Management Inc increased its holdings in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. Parkside Financial Bank & Trust increased its holdings in Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC increased its holdings in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after buying an additional 162 shares during the period. Hilltop National Bank acquired a new stake in Procore Technologies in the fourth quarter valued at approximately $53,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in Procore Technologies by 1,434.0% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock valued at $54,000 after acquiring an additional 674 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCOR has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. DA Davidson raised their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. KeyCorp raised their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. raised their target price on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, TD Cowen raised their target price on shares of Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.24.

Procore Technologies Trading Up 3.8 %

Shares of Procore Technologies stock opened at $68.28 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. The firm has a fifty day moving average price of $77.06 and a 200 day moving average price of $71.08. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The stock has a market cap of $10.24 billion, a PE ratio of -94.83 and a beta of 0.85.

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

Insider Buying and Selling

In other Procore Technologies news, CFO Howard Fu sold 1,190 shares of Procore Technologies stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.00, for a total value of $79,730.00. Following the completion of the transaction, the chief financial officer now owns 146,160 shares of the company’s stock, valued at approximately $9,792,720. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the transaction, the insider now directly owns 84,539 shares of the company’s stock, valued at $6,440,181.02. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,657 shares of company stock valued at $5,442,199 over the last 90 days. Insiders own 29.00% of the company’s stock.

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.