Raymond James Financial Inc. Buys New Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Raymond James Financial Inc. purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 276,641 shares of the company’s stock, valued at approximately $20,729,000. Raymond James Financial Inc. owned approximately 0.19% of Procore Technologies as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC increased its holdings in Procore Technologies by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock valued at $1,199,000 after buying an additional 129 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after acquiring an additional 162 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Procore Technologies by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 4,438 shares of the company’s stock valued at $333,000 after purchasing an additional 234 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CRO Lawrence Joseph Stack sold 12,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total value of $995,040.00. Following the sale, the executive now directly owns 161,368 shares of the company’s stock, valued at approximately $13,380,634.56. This represents a 6.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Fu sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00. Following the transaction, the chief financial officer now owns 156,188 shares of the company’s stock, valued at $13,588,356. This trade represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,982 shares of company stock worth $5,069,759 in the last quarter. Company insiders own 29.00% of the company’s stock.

Procore Technologies Trading Down 2.5 %

Shares of PCOR stock opened at $58.37 on Friday. The business’s fifty day moving average price is $69.99 and its 200 day moving average price is $72.21. The firm has a market capitalization of $8.75 billion, a PE ratio of -81.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly 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 company 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, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on PCOR. JPMorgan Chase & Co. cut their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Piper Sandler boosted their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. DA Davidson dropped their price objective on Procore Technologies from $80.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Macquarie reduced their target price on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Canaccord Genuity Group raised their price target on Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.88.

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.