Segall Bryant & Hamill LLC Cuts Position in Procore Technologies, Inc. (NYSE:PCOR)

Segall Bryant & Hamill LLC cut its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154,728 shares of the company’s stock after selling 4,372 shares during the period. Segall Bryant & Hamill LLC owned about 0.10% of Procore Technologies worth $10,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Covestor Ltd lifted its holdings in shares of Procore Technologies by 15.1% during the 4th quarter. Covestor Ltd now owns 1,571 shares of the company’s stock valued at $118,000 after acquiring an additional 206 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Procore Technologies by 5.3% during the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company’s stock worth $313,000 after acquiring an additional 210 shares during the period. Park Avenue Securities LLC grew its stake in shares of Procore Technologies by 1.7% during the first quarter. Park Avenue Securities LLC now owns 12,934 shares of the company’s stock valued at $854,000 after purchasing an additional 221 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Procore Technologies by 4.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 5,438 shares of the company’s stock valued at $407,000 after purchasing an additional 225 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in Procore Technologies by 1.8% during the first quarter. Xponance Inc. now owns 14,864 shares of the company’s stock worth $981,000 after purchasing an additional 263 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Trading Up 1.7%

NYSE:PCOR opened at $73.25 on Friday. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of -85.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.19. The business has a fifty day moving average of $68.82 and a 200-day moving average of $70.44.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $310.63 million during the quarter, compared to analysts’ expectations of $302.66 million. Procore Technologies had a negative return on equity of 6.54% and a negative net margin of 10.73%. Procore Technologies’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. Equities analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PCOR has been the topic of several research reports. KeyCorp decreased their price target on shares of Procore Technologies from $96.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. DA Davidson upgraded Procore Technologies to a “hold” rating in a report on Tuesday, May 13th. Jefferies Financial Group dropped their price objective on Procore Technologies from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. BMO Capital Markets reduced their price target on Procore Technologies from $95.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Mizuho lowered their price objective on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.39.

Insider Activity

In other Procore Technologies news, insider Benjamin C. Singer sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $75.00, for a total transaction of $337,500.00. Following the sale, the insider owned 97,557 shares of the company’s stock, valued at approximately $7,316,775. The trade was a 4.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Fu sold 796 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $66.88, for a total transaction of $53,236.48. Following the sale, the chief financial officer owned 198,271 shares of the company’s stock, valued at approximately $13,260,364.48. The trade was a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 671,723 shares of company stock worth $43,802,902. 29.00% of the stock is currently owned by insiders.

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.