Proficio Capital Partners LLC Invests $831,000 in Procore Technologies, Inc. (NYSE:PCOR)

Proficio Capital Partners LLC purchased a new position in Procore Technologies, Inc. (NYSE:PCOR) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 11,090 shares of the company’s stock, valued at approximately $831,000.

Several other hedge funds have also recently modified their holdings of the business. Atria Investments Inc raised its stake in shares of Procore Technologies by 11.9% during the 3rd quarter. Atria Investments Inc now owns 4,950 shares of the company’s stock worth $306,000 after acquiring an additional 527 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Procore Technologies by 4.0% during the 3rd quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $3,882,000 after acquiring an additional 2,432 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Procore Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after acquiring an additional 143 shares in the last quarter. Swiss National Bank raised its stake in shares of Procore Technologies by 7.9% during the 3rd quarter. Swiss National Bank now owns 200,000 shares of the company’s stock worth $12,344,000 after acquiring an additional 14,700 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Procore Technologies during the 3rd quarter worth approximately $1,253,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In related news, CRO Lawrence Joseph Stack sold 12,000 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the sale, the executive now directly owns 161,368 shares of the company’s stock, valued at approximately $13,380,634.56. This represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Howard Fu sold 8,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total transaction of $696,000.00. Following the sale, the chief financial officer now directly owns 156,188 shares in the company, valued at $13,588,356. This trade represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,104 shares of company stock worth $5,541,738 over the last 90 days. 29.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on PCOR shares. Jefferies Financial Group upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $100.00 in a research note on Monday, January 6th. Stifel Nicolaus boosted their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Mizuho boosted their price objective on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Piper Sandler upped their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Macquarie cut their price target on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.24.

Procore Technologies Stock Up 1.3 %

NYSE:PCOR opened at $70.37 on Friday. The firm has a market capitalization of $10.55 billion, a P/E ratio of -97.73 and a beta of 0.85. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company’s fifty day moving average price is $76.38 and its 200-day moving average price is $71.53. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

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.