Northside Capital Management LLC Increases Stake in Procore Technologies, Inc. (NYSE:PCOR)

Northside Capital Management LLC increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 28.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 45,236 shares of the company’s stock after buying an additional 9,948 shares during the quarter. Procore Technologies comprises about 0.9% of Northside Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Northside Capital Management LLC’s holdings in Procore Technologies were worth $3,390,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC raised its stake in Procore Technologies by 71.5% in the fourth quarter. Park Avenue Securities LLC now owns 12,713 shares of the company’s stock valued at $953,000 after buying an additional 5,299 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after acquiring an additional 1,425,967 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Procore Technologies by 5.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 88,154 shares of the company’s stock worth $6,605,000 after purchasing an additional 4,407 shares during the last quarter. Hilltop National Bank acquired a new position in Procore Technologies in the fourth quarter valued at approximately $53,000. Finally, Diversified Trust Co increased its stake in Procore Technologies by 157.1% in the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock valued at $3,795,000 after purchasing an additional 30,948 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR opened at $76.85 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $76.72 and its two-hundred day moving average is $67.00. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $86.67.

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

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the sale, the director now directly owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn Bueker sold 6,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $78.01, for a total value of $507,065.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,231 shares of company stock valued at $11,347,753. Corporate insiders own 29.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PCOR shares. BMO Capital Markets upped their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Robert W. Baird upped their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Mizuho lifted their target price on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. The Goldman Sachs Group boosted their target price on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, JMP Securities raised their price target on Procore Technologies from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

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.