Walleye Capital LLC Makes New Investment in Procore Technologies, Inc. (NASDAQ:PCOR)

Walleye Capital LLC purchased a new position in shares of Procore Technologies, Inc. (NASDAQ:PCORGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,719 shares of the company’s stock, valued at approximately $505,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Deer Management Co. LLC acquired a new position in Procore Technologies during the fourth quarter worth about $1,113,059,000. Goldman Sachs Group Inc. grew its stake in shares of Procore Technologies by 1,231.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,016,191 shares of the company’s stock worth $960,935,000 after buying an additional 11,113,486 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Procore Technologies during the first quarter worth $93,191,000. ICONIQ Capital LLC lifted its stake in shares of Procore Technologies by 2.7% in the 1st quarter. ICONIQ Capital LLC now owns 44,808,883 shares of the company’s stock valued at $2,597,174,000 after acquiring an additional 1,186,014 shares during the last quarter. Finally, 12 West Capital Management LP boosted its holdings in shares of Procore Technologies by 51.8% during the 1st quarter. 12 West Capital Management LP now owns 3,208,211 shares of the company’s stock valued at $185,948,000 after acquiring an additional 1,095,000 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Procore Technologies Price Performance

Shares of NASDAQ PCOR opened at $51.31 on Friday. The firm has a market capitalization of $6.96 billion, a P/E ratio of -25.28 and a beta of 0.50. The firm’s 50-day moving average price is $55.28 and its 200-day moving average price is $52.33. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a 1-year low of $40.00 and a 1-year high of $105.29.

Insider Buying and Selling

In other news, insider Benjamin C. Singer sold 6,831 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $56.04, for a total transaction of $382,809.24. Following the completion of the sale, the insider now owns 159,868 shares in the company, valued at $8,959,002.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 4,000 shares of Procore Technologies stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $63.96, for a total transaction of $255,840.00. Following the completion of the transaction, the senior vice president now owns 64,096 shares in the company, valued at approximately $4,099,580.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin C. Singer sold 6,831 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $56.04, for a total value of $382,809.24. Following the completion of the sale, the insider now directly owns 159,868 shares of the company’s stock, valued at $8,959,002.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,555 shares of company stock valued at $5,517,939. 40.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on PCOR shares. Wolfe Research began coverage on Procore Technologies in a research report on Tuesday, August 16th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. decreased their price target on shares of Procore Technologies from $113.00 to $95.00 in a research report on Thursday, June 16th. Piper Sandler lifted their price target on shares of Procore Technologies from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Moffett Nathanson started coverage on Procore Technologies in a research report on Thursday. They set a “buy” rating and a $73.00 target price for the company. Finally, JMP Securities initiated coverage on Procore Technologies in a research report on Tuesday, September 6th. They issued an “outperform” rating and a $70.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and an average price target of $77.92.

Procore Technologies Company Profile

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Procore Technologies, Inc provides 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

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Institutional Ownership by Quarter for Procore Technologies (NASDAQ:PCOR)

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