Zweig DiMenna Associates LLC Boosts Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Zweig DiMenna Associates LLC boosted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 23.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,000 shares of the company’s stock after purchasing an additional 22,800 shares during the quarter. Zweig DiMenna Associates LLC owned approximately 0.08% of Procore Technologies worth $8,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Procore Technologies during the 4th quarter worth about $511,000. SG Americas Securities LLC purchased a new position in shares of Procore Technologies in the 4th quarter valued at $788,000. Ellsworth Advisors LLC grew its position in shares of Procore Technologies by 10.5% in the 4th quarter. Ellsworth Advisors LLC now owns 8,355 shares of the company’s stock valued at $626,000 after buying an additional 794 shares during the last quarter. Procyon Advisors LLC acquired a new stake in Procore Technologies during the 4th quarter worth $242,000. Finally, Northside Capital Management LLC grew its holdings in shares of Procore Technologies by 28.2% during the fourth quarter. Northside Capital Management LLC now owns 45,236 shares of the company’s stock worth $3,390,000 after purchasing an additional 9,948 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In other Procore Technologies news, insider Steven Scott Davis sold 9,671 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 192,137 shares of the company’s stock, valued at $12,488,905. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the transaction, the senior vice president now owns 75,120 shares in the company, valued at $5,314,740. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,475 shares of company stock valued at $10,824,010 over the last three months. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $78.95 on Friday. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $86.67. 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 market capitalization of $11.74 billion, a price-to-earnings ratio of -157.59 and a beta of 0.83. The business has a 50 day simple moving average of $77.63 and a 200 day simple moving average of $67.49.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, equities research analysts anticipate that Procore Technologies, Inc. will post -0.22 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. DA Davidson raised their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $100.00 in a report on Monday, January 6th. Robert W. Baird raised their target price on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Stifel Nicolaus upped their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.00.

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.