Corient Private Wealth LLC Invests $243,000 in Procore Technologies, Inc. (NYSE:PCOR)

Corient Private Wealth LLC bought a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,245 shares of the company’s stock, valued at approximately $243,000.

Several other large investors have also recently added to or reduced their stakes in PCOR. Charles Schwab Investment Management Inc. grew its stake in shares of Procore Technologies by 16.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 682,303 shares of the company’s stock worth $42,112,000 after purchasing an additional 97,117 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Procore Technologies by 8.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 31,718 shares of the company’s stock valued at $1,958,000 after buying an additional 2,538 shares in the last quarter. FMR LLC increased its stake in Procore Technologies by 4.6% during the 3rd quarter. FMR LLC now owns 17,939 shares of the company’s stock valued at $1,107,000 after buying an additional 797 shares during the period. Townsquare Capital LLC raised its position in shares of Procore Technologies by 6.6% during the 3rd quarter. Townsquare Capital LLC now owns 12,882 shares of the company’s stock worth $795,000 after buying an additional 793 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Procore Technologies in the 3rd quarter worth approximately $1,722,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. KeyCorp raised their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. UBS Group lifted their price target on Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, February 14th. JMP Securities upped their price objective on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. Mizuho lifted their target price on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group cut their price target on shares of Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a report on Monday. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Buying and Selling at Procore Technologies

In related news, CFO Howard Fu sold 8,000 shares of Procore Technologies 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 completion of the sale, the chief financial officer now owns 156,188 shares of the company’s stock, valued at approximately $13,588,356. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the transaction, the insider now directly owns 200 shares in the company, valued at approximately $17,480. The trade was a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,604 shares of company stock valued at $5,427,468 in the last 90 days. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Trading Down 1.0 %

NYSE PCOR opened at $66.13 on Tuesday. The firm’s 50 day moving average price is $75.55 and its two-hundred day moving average price is $72.26. 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 twelve month low of $49.46 and a twelve month high of $88.92. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of -91.84 and a beta of 0.85.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results 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 for 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%. Equities 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.