44,495 Shares in Procore Technologies, Inc. $PCOR Bought by Roubaix Capital LLC

Roubaix Capital LLC purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 44,495 shares of the company’s stock, valued at approximately $3,245,000.

Several other institutional investors and hedge funds also recently modified their holdings of PCOR. Global Retirement Partners LLC lifted its stake in Procore Technologies by 465.2% in the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after acquiring an additional 321 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Procore Technologies in the third quarter valued at $34,000. Jones Financial Companies Lllp increased its stake in Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after buying an additional 199 shares during the last quarter. First Horizon Corp bought a new stake in Procore Technologies during the 3rd quarter worth about $49,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Procore Technologies during the 3rd quarter worth about $57,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Stock Up 1.3%

NYSE PCOR opened at $55.76 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The company has a market cap of $8.37 billion, a price-to-earnings ratio of -83.22 and a beta of 0.89. The company has a 50 day moving average of $62.30 and a 200-day moving average of $68.86. Procore Technologies, Inc. has a 1-year low of $46.08 and a 1-year high of $82.32.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $349.11 million for the quarter, compared to analyst estimates of $340.80 million. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The company’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $0.01 EPS. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, CFO Howard Fu sold 814 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $72.99, for a total transaction of $59,413.86. Following the sale, the chief financial officer owned 178,237 shares in the company, valued at approximately $13,009,518.63. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Connor Kevin J. O sold 9,615 shares of Procore Technologies stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $54.48, for a total transaction of $523,825.20. Following the completion of the transaction, the director directly owned 1,012,136 shares in the company, valued at $55,141,169.28. This trade represents a 0.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 323,713 shares of company stock worth $22,951,857 in the last 90 days. Corporate insiders own 21.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. DA Davidson dropped their price objective on Procore Technologies from $75.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. BTIG Research decreased their target price on Procore Technologies from $88.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Piper Sandler dropped their price target on Procore Technologies from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. The Goldman Sachs Group cut their price target on Procore Technologies from $90.00 to $75.00 and set a “buy” rating for the company in a report on Monday, February 9th. Finally, UBS Group decreased their price objective on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Seventeen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.95.

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. 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 Execution, 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.