Procore Technologies, Inc. $PCOR Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lessened its stake in Procore Technologies, Inc. (NYSE:PCOR) by 19.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,504,787 shares of the company’s stock after selling 374,439 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Procore Technologies were worth $102,958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Artisan Partners Limited Partnership increased its position in shares of Procore Technologies by 11.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,005,564 shares of the company’s stock worth $68,801,000 after purchasing an additional 105,022 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in Procore Technologies by 18.1% in the 2nd quarter. Portside Wealth Group LLC now owns 4,170 shares of the company’s stock valued at $285,000 after purchasing an additional 640 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Procore Technologies during the 2nd quarter worth $696,000. Intech Investment Management LLC acquired a new stake in shares of Procore Technologies during the 2nd quarter worth $2,506,000. Finally, Creative Planning raised its holdings in shares of Procore Technologies by 5.5% during the 2nd quarter. Creative Planning now owns 11,775 shares of the company’s stock valued at $806,000 after buying an additional 610 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PCOR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. Citizens Jmp downgraded shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 1st. Canaccord Genuity Group lifted their target price on shares of Procore Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. DA Davidson upgraded shares of Procore Technologies to a “hold” rating in a research report on Friday, November 7th. Finally, Mizuho lifted their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.26.

Insider Buying and Selling at Procore Technologies

In other news, Director Connor Kevin J. O sold 9,615 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $76.37, for a total transaction of $734,297.55. Following the sale, the director directly owned 1,062,134 shares of the company’s stock, valued at approximately $81,115,173.58. This represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn Bueker sold 6,500 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $79.00, for a total transaction of $513,500.00. Following the sale, the director owned 13,481 shares in the company, valued at $1,064,999. This represents a 32.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 92,341 shares of company stock valued at $7,100,270 over the last ninety days. 21.50% of the stock is owned by corporate insiders.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $72.84 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92. The firm has a market cap of $11.32 billion, a PE ratio of -86.74 and a beta of 0.90. The company has a fifty day moving average price of $73.21 and a 200 day moving average price of $70.14.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The firm had revenue of $172.21 million during the quarter. Research analysts predict 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.