Strs Ohio Has $816,000 Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Strs Ohio cut its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,790 shares of the company’s stock after selling 2,230 shares during the quarter. Strs Ohio’s holdings in Procore Technologies were worth $816,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PCOR. Vanguard Group Inc. grew 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 purchasing an additional 995,757 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Procore Technologies by 31.8% in the third quarter. California Public Employees Retirement System now owns 139,326 shares of the company’s stock valued at $9,101,000 after purchasing an additional 33,590 shares during the last quarter. Rhumbline Advisers grew its position in shares of Procore Technologies by 1.9% in the third quarter. Rhumbline Advisers now owns 111,137 shares of the company’s stock valued at $7,259,000 after purchasing an additional 2,073 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Procore Technologies in the third quarter valued at about $2,922,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Procore Technologies in the third quarter valued at about $7,328,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PCOR shares. The Goldman Sachs Group raised their price target on Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Piper Sandler increased their target price on shares of Procore Technologies from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. DA Davidson reiterated a “buy” rating and issued a $95.00 target price on shares of Procore Technologies in a research note on Thursday, March 14th. KeyCorp increased their target price on shares of Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus increased their target price on shares of Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.86.

Procore Technologies Trading Down 0.9 %

NYSE:PCOR opened at $71.11 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of -53.47 and a beta of 0.71. The firm has a fifty day simple moving average of $77.03 and a two-hundred day simple moving average of $68.88. Procore Technologies, Inc. has a 12 month low of $48.11 and a 12 month high of $83.35.

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

Insider Buying and Selling

In related news, CFO Howard Fu sold 1,441 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $71.02, for a total transaction of $102,339.82. Following the sale, the chief financial officer now owns 192,178 shares of the company’s stock, valued at approximately $13,648,481.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Howard Fu sold 1,441 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $71.02, for a total value of $102,339.82. Following the completion of the sale, the chief financial officer now owns 192,178 shares of the company’s stock, valued at approximately $13,648,481.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the sale, the senior vice president now directly owns 77,768 shares of the company’s stock, valued at approximately $5,747,055.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 467,672 shares of company stock valued at $36,612,454. Company insiders own 39.20% 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.