Peregrine Capital Management LLC Has $58.90 Million Stake in Procore Technologies, Inc. $PCOR

Peregrine Capital Management LLC lowered its position in Procore Technologies, Inc. (NYSE:PCOR) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 809,775 shares of the company’s stock after selling 12,984 shares during the quarter. Procore Technologies makes up about 1.8% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Peregrine Capital Management LLC owned 0.52% of Procore Technologies worth $58,903,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCOR. Global Retirement Partners LLC lifted its stake in Procore Technologies by 465.2% in the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after purchasing an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Procore Technologies during the third quarter worth approximately $34,000. Jones Financial Companies Lllp raised its stake in Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after buying an additional 199 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Procore Technologies in the fourth quarter valued at approximately $41,000. Finally, First Horizon Corp acquired a new stake in shares of Procore Technologies in the third quarter valued at approximately $49,000. Institutional investors own 81.10% of the company’s stock.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 4,225 shares of Procore Technologies stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total value of $211,250.00. Following the completion of the transaction, the insider directly owned 64,660 shares of the company’s stock, valued at $3,233,000. The trade was a 6.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $47.64, for a total value of $2,673,652.08. Following the sale, the chairman directly owned 927,580 shares in the company, valued at approximately $44,189,911.20. This trade represents a 5.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 148,026 shares of company stock worth $7,783,734 in the last 90 days. Company insiders own 21.50% of the company’s stock.

Procore Technologies Stock Performance

NYSE:PCOR traded down $3.71 during mid-day trading on Thursday, reaching $53.14. 143,928 shares of the company’s stock were exchanged, compared to its average volume of 2,412,024. The business’s fifty day simple moving average is $55.14 and its two-hundred day simple moving average is $65.32. Procore Technologies, Inc. has a one year low of $46.08 and a one year high of $82.32. The firm has a market capitalization of $7.98 billion, a PE ratio of -79.63 and a beta of 0.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.32.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $349.11 million for the quarter, compared to analysts’ expectations of $340.80 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. Analysts anticipate that Procore Technologies, Inc. will post 0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PCOR shares. The Goldman Sachs Group decreased their target price on Procore Technologies from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, February 9th. KeyCorp dropped their price objective on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. Barclays decreased their price target on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, UBS Group lowered their price target on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Fifteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $75.24.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.