Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its position in Procore Technologies, Inc. (NYSE:PCOR) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,154 shares of the company’s stock after purchasing an additional 4,407 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.06% of Procore Technologies worth $6,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Dragoneer Investment Group LLC raised its position in Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares in the last quarter. Wasatch Advisors LP raised its position in Procore Technologies by 27,239.5% in the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after purchasing an additional 1,575,534 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Procore Technologies in the 3rd quarter valued at about $88,572,000. XN LP raised its position in Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after purchasing an additional 1,411,812 shares in the last quarter. Finally, PointState Capital LP acquired a new stake in shares of Procore Technologies during the 3rd quarter worth about $81,306,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group raised their target price on Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Barclays lifted their target price on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Robert W. Baird lifted their target price on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets lifted their target price on Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Insider Buying and Selling

In other news, insider Steven Scott Davis sold 9,671 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $65.00, for a total value of $628,615.00. Following the completion of the transaction, the insider now directly owns 192,137 shares in the company, valued at approximately $12,488,905. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total transaction of $318,294.96. Following the transaction, the director now owns 1,355,720 shares in the company, valued at $84,149,540.40. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,693 shares of company stock valued at $10,479,096. Insiders own 29.00% of the company’s stock.

Procore Technologies Price Performance

PCOR traded down $1.55 during midday trading on Friday, reaching $74.77. 297,384 shares of the company’s stock were exchanged, compared to its average volume of 998,253. 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 stock has a market capitalization of $11.12 billion, a PE ratio of -149.54 and a beta of 0.83. The business’s 50-day moving average price is $76.24 and its 200 day moving average price is $66.74. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $86.67.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal 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.