Oppenheimer Asset Management Inc. Has $3.64 Million Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Oppenheimer Asset Management Inc. boosted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 56.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,947 shares of the company’s stock after purchasing an additional 21,287 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Procore Technologies were worth $3,638,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Procore Technologies by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock valued at $764,111,000 after buying an additional 94,190 shares in the last quarter. XN LP lifted its stake in shares of Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after buying an additional 1,411,812 shares in the last quarter. Dragoneer Investment Group LLC lifted its stake in shares of Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after buying an additional 1,609,607 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Procore Technologies in the third quarter valued at $88,572,000. Finally, Robeco Schweiz AG lifted its position in shares of Procore Technologies by 20.1% during the second quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock valued at $87,198,000 after purchasing an additional 220,000 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Stock Performance

NYSE PCOR opened at $69.15 on Friday. The company’s 50 day moving average is $62.53 and its 200-day moving average is $63.85. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $83.35. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $10.28 billion, a P/E ratio of -138.30 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $287.42 million. Sell-side analysts predict that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PCOR. TD Cowen boosted their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Stifel Nicolaus cut their price target on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Macquarie restated a “neutral” rating and set a $70.00 price target on shares of Procore Technologies in a report on Tuesday, July 30th. Robert W. Baird began coverage on shares of Procore Technologies in a report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price target on the stock. Finally, The Goldman Sachs Group cut their price target on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.94.

Insider Activity

In related news, SVP William Fred Fleming, Jr. sold 2,707 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $160,091.98. Following the sale, the senior vice president now owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. This represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $57.53, for a total transaction of $1,438,250.00. Following the sale, the director now directly owns 1,380,078 shares in the company, valued at $79,395,887.34. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,695 shares of company stock valued at $8,283,143 over the last quarter. Company insiders own 29.00% of the company’s stock.

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.