Arizona State Retirement System Has $2.25 Million Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Arizona State Retirement System increased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 1.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,003 shares of the company’s stock after purchasing an additional 511 shares during the quarter. Arizona State Retirement System’s holdings in Procore Technologies were worth $2,248,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PCOR. Principal Financial Group Inc. boosted its holdings in shares of Procore Technologies by 29,376.1% in the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after buying an additional 2,670,872 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Procore Technologies by 27,239.5% during 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 during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after purchasing an additional 1,425,967 shares during the last quarter. PointState Capital LP acquired a new stake in Procore Technologies during the 3rd quarter valued at $81,306,000. Finally, Janus Henderson Group PLC lifted its holdings in Procore Technologies by 128.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after purchasing an additional 1,297,151 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.26, for a total value of $520,876.60. Following the transaction, the director now owns 1,269,828 shares in the company, valued at $103,186,223.28. The trade was a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Howard Fu sold 2,642 shares of Procore Technologies stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $77.05, for a total value of $203,566.10. Following the completion of the transaction, the chief financial officer now owns 147,350 shares in the company, valued at approximately $11,353,317.50. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,621 shares of company stock worth $5,193,578. Company insiders own 29.00% of the company’s stock.

Procore Technologies Stock Down 5.7 %

Shares of NYSE PCOR opened at $69.12 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The stock has a market capitalization of $10.36 billion, a P/E ratio of -95.99 and a beta of 0.85. The stock’s fifty day moving average is $77.76 and its 200 day moving average is $71.06.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PCOR shares. JPMorgan Chase & Co. raised their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Robert W. Baird raised their price target on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Stifel Nicolaus raised their price target on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Mizuho raised their price target on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, JMP Securities increased their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.94.

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.