Pathstone Holdings LLC Has $9 Million Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Pathstone Holdings LLC lifted its position in Procore Technologies, Inc. (NYSE:PCOR) by 804.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,802 shares of the company’s stock after acquiring an additional 129,679 shares during the period. Pathstone Holdings LLC owned approximately 0.10% of Procore Technologies worth $8,999,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PCOR. Park Avenue Securities LLC grew its stake in shares of Procore Technologies by 16.9% during the 2nd quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock worth $580,000 after acquiring an additional 1,266 shares in the last quarter. M&G Plc grew its stake in shares of Procore Technologies by 12.4% during the 2nd quarter. M&G Plc now owns 120,626 shares of the company’s stock worth $7,961,000 after acquiring an additional 13,334 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Procore Technologies by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock worth $764,111,000 after acquiring an additional 94,190 shares in the last quarter. Burney Co. bought a new position in shares of Procore Technologies during the 1st quarter worth approximately $1,371,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Procore Technologies by 118.0% in the 2nd quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock valued at $1,158,000 after buying an additional 9,454 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of Procore Technologies stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $71.04, for a total value of $876,633.60. Following the transaction, the insider now owns 2,284,989 shares in the company, valued at $162,325,618.56. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the transaction, the director now owns 1,371,104 shares in the company, valued at approximately $79,606,298.24. This represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,997 shares of company stock worth $4,497,153. Company insiders own 29.00% of the company’s stock.

Procore Technologies Stock Up 6.7 %

Shares of NYSE PCOR opened at $74.97 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $83.35. The stock has a market capitalization of $11.15 billion, a P/E ratio of -149.94 and a beta of 0.71. The stock’s fifty day moving average is $63.82 and its 200 day moving average is $63.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Sell-side analysts forecast that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PCOR shares. The Goldman Sachs Group cut their price objective on Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Scotiabank cut their price objective on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Jefferies Financial Group increased their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday. Finally, BMO Capital Markets cut their price objective on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.25.

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.