Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Procore Technologies, Inc. (NYSE:PCOR) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,584 shares of the company’s stock after acquiring an additional 2,159 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Procore Technologies were worth $1,286,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Procore Technologies by 13.2% in the third quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock valued at $557,746,000 after buying an additional 995,757 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Procore Technologies by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 4,744,726 shares of the company’s stock valued at $309,926,000 after buying an additional 114,649 shares in the last quarter. Cadian Capital Management LP increased its position in shares of Procore Technologies by 9.1% in the third quarter. Cadian Capital Management LP now owns 3,026,123 shares of the company’s stock valued at $197,666,000 after buying an additional 253,000 shares in the last quarter. Invesco Ltd. increased its position in shares of Procore Technologies by 32.8% in the third quarter. Invesco Ltd. now owns 2,398,257 shares of the company’s stock valued at $156,654,000 after buying an additional 592,318 shares in the last quarter. Finally, Cerity Partners LLC increased its position in shares of Procore Technologies by 4,290.2% in the fourth quarter. Cerity Partners LLC now owns 1,334,194 shares of the company’s stock valued at $92,353,000 after buying an additional 1,303,804 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $72.21, for a total value of $370,292.88. Following the transaction, the director now owns 1,543,037 shares of the company’s stock, valued at approximately $111,422,701.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $72.21, for a total value of $370,292.88. Following the transaction, the director now owns 1,543,037 shares of the company’s stock, valued at approximately $111,422,701.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nanci Caldwell sold 9,270 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $75.00, for a total value of $695,250.00. Following the completion of the transaction, the director now directly owns 64,280 shares in the company, valued at approximately $4,821,000. The disclosure for this sale can be found here. Insiders have sold a total of 467,672 shares of company stock valued at $36,612,454 in the last quarter. Insiders own 39.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PCOR shares. BMO Capital Markets boosted their price objective on Procore Technologies from $76.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. JMP Securities boosted their price target on Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research report on Friday, February 16th. Piper Sandler boosted their price target on Procore Technologies from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Stifel Nicolaus boosted their price target on Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, DA Davidson reiterated a “buy” rating and set a $95.00 price target on shares of Procore Technologies in a research report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.86.

Procore Technologies Stock Up 0.4 %

Shares of NYSE:PCOR opened at $70.09 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $76.82 and a two-hundred day moving average of $68.90. The stock has a market cap of $10.16 billion, a P/E ratio of -52.70 and a beta of 0.71. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.13. The company had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. On average, research analysts expect that Procore Technologies, Inc. will post -0.64 earnings per share for the current year.

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.