JP Morgan analysts reiterates an Overweight rating for Procore Technologies Inc (PCOR)

In a filing, Procore Technologies Inc revealed its CFO & Treasurer Fu Howard unloaded Company’s shares for reported $79563.0 on Jan 22. In the deal valued at $69.67 per share,1,142 shares were sold. As a result of this transaction, Fu Howard now holds 144,608 shares worth roughly $10.52 million.

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Then, O CONNOR KEVIN J sold 5,128 shares, generating $355,319 in total proceeds. Upon selling the shares at $69.29, the Director now owns 1,548,165 shares.

Before that, O CONNOR KEVIN J sold 5,128 shares. Procore Technologies Inc shares valued at $359,524 were divested by the Director at a price of $70.11 per share. As a result of the transaction, O CONNOR KEVIN J now holds 1,553,293 shares, worth roughly $112.97 million.

JP Morgan reiterated its Procore Technologies Inc [PCOR] rating to an Overweight in a research note published On Monday, January 23, 2024; the price target was $81.

Price Performance Review of PCOR

On Monday, Procore Technologies Inc [NYSE:PCOR] saw its stock jump 2.54% to $72.73. Over the last five days, the stock has gained 2.13%. Procore Technologies Inc shares have risen nearly 5.07% since the year began. Nevertheless, the stocks have risen 30.08% over the past one year. While a 52-week high of $76.86 was reached on 01/24/24, a 52-week low of $48.11 was recorded on 01/03/24. SMA at 50 days reached $64.51, while 200 days put it at $63.29. A total of 0.77 million shares were traded, compared to the trading of 1.09 million shares in the previous session.

Levels Of Support And Resistance For PCOR Stock

The 24-hour chart illustrates a support level at 71.22, which if violated will result in even more drops to 69.72. On the upside, there is a resistance level at 73.52. A further resistance level may holdings at 74.32. The Relative Strength Index (RSI) on the 14-day chart is 64.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.34, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.49%. Stochastics %K at 77.93% indicates the stock is a holding.

How much short interest is there in Procore Technologies Inc?

A steep rise in short interest was recorded in Procore Technologies Inc stocks on Jan 11, 2024, growing by 100000.0 shares to a total of 4.43 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2023 was 4.33 million shares. There was a rise of 2.26%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.94% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.26.

Procore Technologies Inc [PCOR] – Who Are The Largest Shareholders?

In filings from ICONIQ Capital LLC, it is revealed that the company now owns 35,487,966 shares, or roughly 24.73% of the outstanding PCOR shares. In other words, the investor’s shares have risen by 78,639 from its previous 13-F filing of 35409327.0. Additionally, T. Rowe Price Associates, Inc. increased 7.77% of its stake after which the total value it holdings stand at $727,787,317, while The Vanguard Group, Inc. added 13.20% of its stake to hold $582.33 million in the firm. Over the last quarter, Morgan Stanley Investment Managem sold -478,074 shares of Procore Technologies Inc, while BlackRock Fund Advisors sold 414,073 shares. At present, JPMorgan Investment Management, I is holding 3,258,245 shares valued at $225.54 million. Cadian Capital Management LP owned 3,026,123 shares of the company at the time of its most recent 13F filing, worth $209.47 million.

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