Curi RMB Capital LLC Cuts Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Curi RMB Capital LLC lowered its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,652 shares of the company’s stock after selling 10,257 shares during the quarter. Curi RMB Capital LLC’s holdings in Procore Technologies were worth $7,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PCOR. Diversified Trust Co lifted its position in shares of 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 acquiring an additional 30,948 shares in the last quarter. US Bancorp DE increased its position in Procore Technologies by 18.8% during the fourth quarter. US Bancorp DE now owns 21,416 shares of the company’s stock worth $1,605,000 after purchasing an additional 3,390 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Procore Technologies during the 4th quarter valued at approximately $20,729,000. Barclays PLC lifted its stake in shares of Procore Technologies by 49.1% in the 3rd quarter. Barclays PLC now owns 69,012 shares of the company’s stock valued at $4,259,000 after purchasing an additional 22,734 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Procore Technologies in the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Trading Down 2.5 %

Shares of Procore Technologies stock opened at $58.37 on Friday. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The business has a 50 day moving average price of $69.99 and a 200 day moving average price of $72.21. The company has a market capitalization of $8.75 billion, a P/E ratio of -81.06 and a beta of 0.90.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PCOR shares. Mizuho dropped their price objective on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Jefferies Financial Group lowered their target price on shares of Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, March 31st. JMP Securities increased their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 18th. Macquarie cut their target price on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.88.

Insiders Place Their Bets

In other news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the completion of the transaction, the insider now owns 83,039 shares of the company’s stock, valued at $6,477,042. This represents a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now owns 161,368 shares in the company, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,982 shares of company stock valued at $5,069,759 in the last ninety days. Insiders own 29.00% of the company’s stock.

Procore Technologies Company Profile

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.