Cerity Partners LLC Cuts Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Cerity Partners LLC lowered its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,250 shares of the company’s stock after selling 8,259 shares during the quarter. Cerity Partners LLC’s holdings in Procore Technologies were worth $3,391,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position in Procore Technologies by 4.6% during the third quarter. FMR LLC now owns 17,939 shares of the company’s stock worth $1,107,000 after acquiring an additional 797 shares during the last quarter. State Street Corp boosted its holdings in shares of Procore Technologies by 13.2% during the 3rd quarter. State Street Corp now owns 1,810,895 shares of the company’s stock worth $111,768,000 after purchasing an additional 211,590 shares during the last quarter. Barclays PLC grew its position in shares of Procore Technologies by 49.1% in the third 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 in the last quarter. M&T Bank Corp acquired a new stake in shares of Procore Technologies in the third quarter valued at approximately $250,000. Finally, Geode Capital Management LLC lifted its position in Procore Technologies by 10.9% during the third quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company’s stock worth $105,967,000 after buying an additional 168,769 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Trading Up 0.0 %

Shares of NYSE:PCOR opened at $60.62 on Tuesday. The company has a market cap of $9.09 billion, a PE ratio of -84.19 and a beta of 0.90. The company’s 50 day moving average is $71.30 and its two-hundred day 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 current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last posted 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 during the quarter, compared to analyst estimates 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 predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $76.62, for a total transaction of $491,134.20. Following the sale, the director now directly owns 1,250,598 shares in the company, valued at $95,820,818.76. This trade represents a 0.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at $17,480. This represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,176 shares of company stock valued at $5,486,304. Corporate insiders own 29.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. KeyCorp upped their target price on Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Stifel Nicolaus raised their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group boosted their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a report on Friday, February 14th. 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, March 31st. Finally, 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. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.47.

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.