Northside Capital Management LLC Raises Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Northside Capital Management LLC raised its stake in Procore Technologies, Inc. (NYSE:PCOR) by 28.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,236 shares of the company’s stock after acquiring an additional 9,948 shares during the quarter. Procore Technologies makes up approximately 0.9% of Northside Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. Northside Capital Management LLC’s holdings in Procore Technologies were worth $3,390,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Dragoneer Investment Group LLC grew its position in shares of Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after acquiring an additional 1,609,607 shares during the period. Wasatch Advisors LP raised its stake in shares of Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock worth $97,599,000 after buying an additional 1,575,534 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Procore Technologies in the 3rd quarter valued at $88,572,000. XN LP increased its holdings in Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after acquiring an additional 1,411,812 shares in the last quarter. Finally, PointState Capital LP acquired a new position in Procore Technologies during the third quarter worth $81,306,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kathryn Bueker sold 6,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $78.01, for a total transaction of $507,065.00. Following the sale, the director now owns 23,932 shares of the company’s stock, valued at approximately $1,866,935.32. This represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $76.62, for a total transaction of $491,134.20. Following the completion of the transaction, the director now owns 1,250,598 shares of the company’s stock, valued at $95,820,818.76. This trade represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,231 shares of company stock worth $11,347,753 over the last ninety days. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Stock Up 2.7 %

Shares of NYSE:PCOR opened at $76.85 on Thursday. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $86.67. The business has a 50-day moving average price of $76.72 and a 200 day moving average price of $67.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, analysts expect that Procore Technologies, Inc. will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PCOR shares. DA Davidson lifted their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. JMP Securities increased their target price on Procore Technologies from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Monday, December 2nd. TD Cowen lifted their price target on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Stifel Nicolaus increased their price objective on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler raised their price objective on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Four 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 stock. Based on data from MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Procore Technologies 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.