Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 15.4% during the fourth quarter, HoldingsChannel reports. The firm owned 45,250 shares of the company’s stock after selling 8,259 shares during the period. Cerity Partners LLC’s holdings in Procore Technologies were worth $3,391,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PCOR. Vanguard Group Inc. increased its stake in Procore Technologies by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock valued at $891,692,000 after buying an additional 838,925 shares during the period. Assenagon Asset Management S.A. raised its holdings in Procore Technologies by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after purchasing an additional 1,425,967 shares in the last quarter. Principal Financial Group Inc. lifted its position in Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the period. State Street Corp boosted its holdings in Procore Technologies by 13.2% in the 3rd quarter. State Street Corp now owns 1,810,895 shares of the company’s stock valued at $111,768,000 after purchasing an additional 211,590 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Procore Technologies by 20.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,766,675 shares of the company’s stock worth $132,377,000 after purchasing an additional 304,396 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on PCOR shares. Barclays reduced their price target on Procore Technologies from $90.00 to $70.00 and set an “equal weight” rating for the company in a report on Monday. KeyCorp boosted their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Stifel Nicolaus increased their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. DA Davidson decreased their price objective on shares of Procore Technologies from $80.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Macquarie dropped their target price on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $87.47.

Insider Buying and Selling

In other news, CFO Howard Fu sold 1,447 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $68.79, for a total transaction of $99,539.13. Following the completion of the transaction, the chief financial officer now owns 144,713 shares of the company’s stock, valued at $9,954,807.27. This represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Connor Kevin J. O sold 6,410 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $76.62, for a total transaction of $491,134.20. Following the completion of the sale, the director now directly owns 1,250,598 shares in the company, valued at $95,820,818.76. This represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,176 shares of company stock worth $5,486,304. 29.00% of the stock is owned by insiders.

Procore Technologies Stock Up 0.0 %

PCOR opened at $60.62 on Tuesday. The firm has a market cap of $9.09 billion, a P/E ratio of -84.19 and a beta of 0.90. The business’s fifty day simple moving average is $71.30 and its 200 day simple moving average is $72.32. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The firm 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%. As a group, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.