State of New Jersey Common Pension Fund D Purchases 3,689 Shares of Procore Technologies, Inc. (NYSE:PCOR)

State of New Jersey Common Pension Fund D raised its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,032 shares of the company’s stock after purchasing an additional 3,689 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Procore Technologies were worth $3,602,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Syon Capital LLC bought a new stake in shares of Procore Technologies during the 4th quarter valued at about $322,000. New York State Common Retirement Fund grew its stake in shares of Procore Technologies by 11.6% during the 4th quarter. New York State Common Retirement Fund now owns 183,528 shares of the company’s stock valued at $12,704,000 after acquiring an additional 19,089 shares during the period. California Public Employees Retirement System grew its stake in shares of Procore Technologies by 0.6% during the 4th quarter. California Public Employees Retirement System now owns 140,164 shares of the company’s stock valued at $9,702,000 after acquiring an additional 838 shares during the period. Jennison Associates LLC grew its stake in shares of Procore Technologies by 722.9% during the 4th quarter. Jennison Associates LLC now owns 586,523 shares of the company’s stock valued at $40,599,000 after acquiring an additional 515,245 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its stake in shares of Procore Technologies by 327.6% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 96,200 shares of the company’s stock valued at $6,659,000 after acquiring an additional 73,700 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Stock Up 0.4 %

Shares of PCOR opened at $70.09 on Friday. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35. The business’s 50 day simple moving average is $76.82 and its 200-day simple moving average is $68.90. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04.

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 the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. The company had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.64 EPS for the current year.

Insider Activity at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $446,429.90. Following the sale, the senior vice president now owns 77,768 shares in the company, valued at approximately $5,747,055.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $4,821,679.40. Following the sale, the chief executive officer now owns 748,247 shares in the company, valued at approximately $55,295,453.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $446,429.90. Following the completion of the sale, the senior vice president now owns 77,768 shares in the company, 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 worth $36,612,454. Company insiders own 39.20% of the company’s stock.

Analysts Set New Price Targets

PCOR has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 16th. DA Davidson restated a “buy” rating and issued a $95.00 price target on shares of Procore Technologies in a research note on Thursday, March 14th. Piper Sandler upped their price target on Procore Technologies from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Stifel Nicolaus upped their price target on Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, JMP Securities upped their price target on Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $81.86.

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.