Sanctuary Advisors LLC Makes New Investment in Procore Technologies, Inc. (NYSE:PCOR)

Sanctuary Advisors LLC acquired a new position in Procore Technologies, Inc. (NYSE:PCOR) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,672 shares of the company’s stock, valued at approximately $227,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Procore Technologies in the 3rd quarter valued at approximately $26,000. Signaturefd LLC boosted its holdings in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Procore Technologies in the second quarter valued at about $51,000. Finally, International Assets Investment Management LLC increased its position in Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now owns 84,539 shares in the company, valued at $6,440,181.02. This represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.07, for a total value of $318,294.96. Following the completion of the transaction, the director now directly owns 1,355,720 shares in the company, valued at $84,149,540.40. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,693 shares of company stock valued at $10,479,096. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Stock Down 2.0 %

Shares of NYSE:PCOR opened at $76.36 on Monday. The firm has a market capitalization of $11.35 billion, a PE ratio of -152.72 and a beta of 0.82. 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 fifty day moving average of $73.89 and a 200 day moving average of $66.02.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. As a group, research analysts anticipate that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of recent research reports. JMP Securities lifted their price objective on Procore Technologies from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Monday, December 2nd. Barclays raised their price target on shares of Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Mizuho raised their target price on shares of Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their target price on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.24.

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.