Portside Wealth Group LLC Takes $199,000 Position in Procore Technologies, Inc. (NYSE:PCOR)

Portside Wealth Group LLC acquired a new position in Procore Technologies, Inc. (NYSE:PCOR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,013 shares of the company’s stock, valued at approximately $199,000.

Several other institutional investors also recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its holdings in Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after acquiring an additional 162 shares during the last quarter. Huntington National Bank lifted its stake in shares of Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after acquiring an additional 404 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in Procore Technologies by 1,434.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock valued at $54,000 after purchasing an additional 674 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Procore Technologies during the 4th quarter valued at approximately $56,000. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In related news, insider Benjamin C. Singer sold 4,203 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $68.91, for a total transaction of $289,628.73. Following the completion of the sale, the insider now owns 102,057 shares in the company, valued at approximately $7,032,747.87. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 7,700 shares of the firm’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total value of $436,359.00. Following the transaction, the director now owns 1,208,284 shares in the company, valued at approximately $68,473,454.28. This trade represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,981 shares of company stock worth $2,941,093 in the last quarter. Insiders own 29.00% of the company’s stock.

Procore Technologies Stock Performance

NYSE PCOR opened at $67.99 on Friday. The company has a fifty day simple moving average of $64.48 and a 200 day simple moving average of $72.47. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $10.14 billion, a P/E ratio of -94.43 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. Sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of analyst reports. KeyCorp reduced their price objective 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. Stifel Nicolaus dropped their target price on shares of Procore Technologies from $93.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Scotiabank decreased their price target on Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating for the company in a report on Thursday, April 24th. BMO Capital Markets lowered their price objective 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 cut their target price on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.24.

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.