Maestria Partners LLC Takes $12.30 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Maestria Partners LLC acquired a new position in Procore Technologies, Inc. (NYSE:PCOR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 164,140 shares of the company’s stock, valued at approximately $12,299,000. Procore Technologies accounts for about 4.9% of Maestria Partners LLC’s holdings, making the stock its 13th largest position.

A number of other hedge funds have also bought and sold shares of the business. Teacher Retirement System of Texas boosted its holdings in shares of Procore Technologies by 51.5% in the fourth quarter. Teacher Retirement System of Texas now owns 10,529 shares of the company’s stock worth $789,000 after acquiring an additional 3,581 shares during the period. Xponance Inc. boosted its stake in Procore Technologies by 8.2% in the 4th quarter. Xponance Inc. now owns 14,601 shares of the company’s stock worth $1,094,000 after purchasing an additional 1,112 shares during the period. Parallel Advisors LLC grew its holdings in Procore Technologies by 19.9% during the 4th quarter. Parallel Advisors LLC now owns 6,098 shares of the company’s stock valued at $457,000 after buying an additional 1,012 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Procore Technologies in the fourth quarter worth about $243,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Procore Technologies by 99.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,991 shares of the company’s stock valued at $599,000 after acquiring an additional 3,991 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Trading Up 1.8 %

NYSE PCOR opened at $69.87 on Thursday. The firm has a market cap of $10.48 billion, a PE ratio of -97.05 and a beta of 0.85. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The stock has a 50-day moving average of $76.61 and a 200-day moving average of $71.36. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

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

Analyst Ratings Changes

A number of analysts recently weighed in on PCOR shares. Stifel Nicolaus upped their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group increased their price objective on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. UBS Group upped their target price on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Scotiabank lifted their price target on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Four 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.24.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,190 shares of Procore Technologies stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.00, for a total transaction of $79,730.00. Following the sale, the chief financial officer now directly owns 146,160 shares of the company’s stock, valued at approximately $9,792,720. The trade was a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the transaction, the insider now directly owns 84,539 shares of the company’s stock, valued at $6,440,181.02. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,657 shares of company stock worth $5,442,199 in the last 90 days. Company insiders own 29.00% of the company’s stock.

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.