HighTower Advisors LLC Sells 460 Shares of Procore Technologies, Inc. (NYSE:PCOR)

HighTower Advisors LLC reduced its position in Procore Technologies, Inc. (NYSE:PCOR) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,534 shares of the company’s stock after selling 460 shares during the quarter. HighTower Advisors LLC’s holdings in Procore Technologies were worth $1,204,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Westfield Capital Management Co. LP increased its holdings in Procore Technologies by 39.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock valued at $59,635,000 after buying an additional 272,030 shares during the period. Advantage Alpha Capital Partners LP boosted its stake in shares of Procore Technologies by 30.2% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock valued at $7,825,000 after purchasing an additional 29,431 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of Procore Technologies by 804.3% in the 3rd quarter. Pathstone Holdings LLC now owns 145,802 shares of the company’s stock valued at $8,999,000 after purchasing an additional 129,679 shares in the last quarter. Long Path Partners LP boosted its stake in shares of Procore Technologies by 5.8% in the 3rd quarter. Long Path Partners LP now owns 358,050 shares of the company’s stock valued at $22,099,000 after purchasing an additional 19,547 shares in the last quarter. Finally, Dragoneer Investment Group LLC boosted its stake in shares of Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PCOR shares. KeyCorp raised their price target on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. UBS Group started coverage on shares of Procore Technologies in a research note on Monday, December 2nd. They issued a “buy” rating and a $105.00 price target on the stock. Robert W. Baird raised their price target 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. BMO Capital Markets raised their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.71.

Procore Technologies Stock Down 1.4 %

Procore Technologies stock opened at $77.70 on Tuesday. 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 $86.67. The firm has a 50 day moving average price of $71.18 and a two-hundred day moving average price of $65.33. The firm has a market cap of $11.55 billion, a price-to-earnings ratio of -155.40 and a beta of 0.82.

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, hitting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Equities analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Insider Activity

In other Procore Technologies news, CFO Howard Fu sold 1,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the completion of the sale, the chief financial officer now owns 171,997 shares in the company, valued at approximately $12,340,784.75. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 33,332 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the sale, the director now owns 1,282,648 shares of the company’s stock, valued at $105,087,350.64. This trade represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,321 shares of company stock worth $10,664,711 in the last quarter. 29.00% of the stock is owned by corporate insiders.

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.