Strs Ohio Sells 14,879 Shares of Procore Technologies, Inc. $PCOR

Strs Ohio lessened its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 84.4% in the third quarter, Holdings Channel.com reports. The firm owned 2,740 shares of the company’s stock after selling 14,879 shares during the period. Strs Ohio’s holdings in Procore Technologies were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Versant Capital Management Inc grew its stake in Procore Technologies by 23.6% in the 3rd quarter. Versant Capital Management Inc now owns 938 shares of the company’s stock valued at $68,000 after buying an additional 179 shares in the last quarter. George Kaiser Family Foundation boosted its holdings in shares of Procore Technologies by 1.0% in the second quarter. George Kaiser Family Foundation now owns 23,168 shares of the company’s stock worth $1,585,000 after acquiring an additional 240 shares during the period. Russell Investments Group Ltd. grew its position in shares of Procore Technologies by 3.8% in the second quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company’s stock valued at $500,000 after purchasing an additional 269 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Procore Technologies by 25.3% during the 3rd quarter. Harbor Investment Advisory LLC now owns 1,343 shares of the company’s stock valued at $98,000 after purchasing an additional 271 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Procore Technologies by 3.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,058 shares of the company’s stock valued at $647,000 after purchasing an additional 299 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Connor Kevin J. O sold 36,196 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $78.06, for a total value of $2,825,459.76. Following the completion of the sale, the director owned 1,071,749 shares of the company’s stock, valued at approximately $83,660,726.94. The trade was a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Lawrence Joseph Stack sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $75.30, for a total value of $753,000.00. Following the transaction, the executive owned 184,128 shares in the company, valued at approximately $13,864,838.40. The trade was a 5.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 690,703 shares of company stock worth $50,266,998 over the last 90 days. Insiders own 21.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays raised shares of Procore Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $82.00 to $90.00 in a report on Monday, January 5th. Robert W. Baird raised their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. BTIG Research restated a “buy” rating and set a $88.00 price target on shares of Procore Technologies in a research report on Wednesday, December 17th. BMO Capital Markets increased their price objective on Procore Technologies from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.11.

Procore Technologies Stock Up 0.1%

PCOR opened at $56.57 on Tuesday. The business’s fifty day simple moving average is $71.53 and its 200 day simple moving average is $71.25. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The stock has a market cap of $8.79 billion, a PE ratio of -67.34 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The firm had revenue of $338.85 million during the quarter, compared to analysts’ expectations of $328.13 million. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. As a group, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

About Procore Technologies

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.