New York State Common Retirement Fund Has $28.48 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

New York State Common Retirement Fund boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 0.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 431,324 shares of the company’s stock after acquiring an additional 2,368 shares during the period. New York State Common Retirement Fund’s holdings in Procore Technologies were worth $28,476,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Xponance Inc. raised its position in shares of Procore Technologies by 1.8% in the 1st quarter. Xponance Inc. now owns 14,864 shares of the company’s stock valued at $981,000 after buying an additional 263 shares in the last quarter. WESPAC Advisors LLC acquired a new position in shares of Procore Technologies in the 1st quarter valued at approximately $781,000. Robeco Schweiz AG raised its position in shares of Procore Technologies by 1.6% in the 1st quarter. Robeco Schweiz AG now owns 1,258,265 shares of the company’s stock valued at $83,071,000 after buying an additional 19,265 shares in the last quarter. Cerity Partners LLC raised its position in shares of Procore Technologies by 167.6% in the 1st quarter. Cerity Partners LLC now owns 121,073 shares of the company’s stock valued at $7,993,000 after buying an additional 75,823 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Procore Technologies by 87.4% in the 1st quarter. Brown Advisory Inc. now owns 12,943 shares of the company’s stock valued at $854,000 after buying an additional 6,038 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on PCOR shares. Arete started coverage on shares of Procore Technologies in a research report on Monday, June 16th. They issued a “buy” rating and a $91.00 target price for the company. KeyCorp dropped their target price on shares of Procore Technologies from $96.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. UBS Group lowered their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, Barclays upped their price objective on shares of Procore Technologies from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.39.

Insider Buying and Selling

In other news, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $64.76, for a total value of $12,485,922.28. Following the sale, the insider directly owned 3,137,255 shares of the company’s stock, valued at approximately $203,168,633.80. This represents a 5.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Howard Fu sold 796 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $66.88, for a total transaction of $53,236.48. Following the completion of the sale, the chief financial officer directly owned 198,271 shares in the company, valued at approximately $13,260,364.48. This represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 671,723 shares of company stock worth $43,802,902. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Trading Up 0.0%

PCOR opened at $71.59 on Tuesday. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of -83.24 and a beta of 0.89. The company’s 50 day moving average price is $68.40 and its two-hundred day moving average price is $70.44.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The company had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same period in the prior year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current 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.