Interchange Capital Partners LLC Sells 222 Shares of Procore Technologies, Inc. $PCOR

Interchange Capital Partners LLC lowered its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 6.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,400 shares of the company’s stock after selling 222 shares during the quarter. Interchange Capital Partners LLC’s holdings in Procore Technologies were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCOR. Xponance Inc. increased its holdings in Procore Technologies by 1.8% during the first quarter. Xponance Inc. now owns 14,864 shares of the company’s stock valued at $981,000 after buying an additional 263 shares during the last quarter. TFB Advisors LLC grew its position in shares of Procore Technologies by 8.1% during the 1st quarter. TFB Advisors LLC now owns 3,543 shares of the company’s stock valued at $234,000 after acquiring an additional 264 shares during the period. Amalgamated Bank grew its position in shares of Procore Technologies by 4.2% during the 1st quarter. Amalgamated Bank now owns 7,374 shares of the company’s stock valued at $487,000 after acquiring an additional 295 shares during the period. Fifth Third Bancorp increased its stake in shares of Procore Technologies by 5.8% in the 1st quarter. Fifth Third Bancorp now owns 5,977 shares of the company’s stock worth $395,000 after purchasing an additional 329 shares in the last quarter. Finally, Allen Investment Management LLC raised its holdings in Procore Technologies by 7.3% in the 1st quarter. Allen Investment Management LLC now owns 5,133 shares of the company’s stock worth $339,000 after purchasing an additional 348 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In other Procore Technologies news, CFO Howard Fu sold 796 shares of Procore Technologies stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $71.02, for a total value of $56,531.92. Following the sale, the chief financial officer owned 188,661 shares of the company’s stock, valued at $13,398,704.22. The trade was a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Benjamin C. Singer sold 1,036 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $75.00, for a total value of $77,700.00. Following the sale, the insider directly owned 85,330 shares in the company, valued at $6,399,750. This trade represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,422 shares of company stock worth $1,685,658. Corporate insiders own 21.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $82.00 price target on shares of Procore Technologies in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. BMO Capital Markets increased their target price on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Barclays lifted their price target on shares of Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Finally, JMP Securities reiterated a “market perform” rating and issued a $95.00 price target on shares of Procore Technologies in a research report on Friday, August 1st. Fourteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and an average target price of $83.11.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $72.45 on Wednesday. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of -75.47 and a beta of 0.90. The firm has a fifty day moving average price of $69.33 and a 200 day moving average price of $67.79. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The company had revenue of $172.21 million during the quarter. As a group, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Procore Technologies 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.