Procore Technologies, Inc. $PCOR Position Trimmed by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd lessened its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 39.0% in the second quarter, Holdings Channel.com reports. The fund owned 9,380 shares of the company’s stock after selling 6,000 shares during the quarter. Hel Ved Capital Management Ltd’s holdings in Procore Technologies were worth $642,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PCOR. Northwestern Mutual Wealth Management Co. raised its position in shares of Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after purchasing an additional 385 shares during the period. SVB Wealth LLC purchased a new position in Procore Technologies in the 1st quarter worth about $49,000. Hilltop National Bank acquired a new stake in Procore Technologies during the 2nd quarter worth about $62,000. AlphaQuest LLC lifted its stake in Procore Technologies by 58.7% during the first quarter. AlphaQuest LLC now owns 1,858 shares of the company’s stock valued at $123,000 after buying an additional 687 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Procore Technologies by 37.2% during the first quarter. Smartleaf Asset Management LLC now owns 2,244 shares of the company’s stock valued at $150,000 after buying an additional 609 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Procore Technologies Trading Up 2.3%

Shares of NYSE:PCOR opened at $73.85 on Wednesday. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92. The firm has a fifty day moving average price of $73.28 and a 200 day moving average price of $70.36. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.48 billion, a PE ratio of -87.91 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share for the quarter. The company had revenue of $172.21 million during the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%. Analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

PCOR has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Robert W. Baird increased their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. BMO Capital Markets boosted their price objective on shares of Procore Technologies from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Citizens Jmp cut shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 1st. Finally, KeyCorp lifted their price objective on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Thirteen 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 company’s stock. According to data from MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $84.47.

Insider Activity

In other Procore Technologies news, 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 transaction, the director owned 13,481 shares in the company, valued at $1,064,999. This trade represents a 32.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Connor Kevin J. O sold 9,615 shares of Procore Technologies stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $76.37, for a total transaction of $734,297.55. Following the completion of the transaction, the director directly owned 1,062,134 shares in the company, valued at approximately $81,115,173.58. This represents a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 397,342 shares of company stock valued at $29,019,501. Insiders own 21.50% of the company’s stock.

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.