Raymond James & Associates Raises Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Raymond James & Associates increased its position in Procore Technologies, Inc. (NYSE:PCOR) by 1,055.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,148 shares of the company’s stock after purchasing an additional 42,154 shares during the period. Raymond James & Associates’ holdings in Procore Technologies were worth $3,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCOR. IFP Advisors Inc grew its stake in shares of Procore Technologies by 2,600.0% in the third quarter. IFP Advisors Inc now owns 378 shares of the company’s stock worth $25,000 after acquiring an additional 364 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Procore Technologies in the first quarter worth $31,000. BluePath Capital Management LLC purchased a new stake in shares of Procore Technologies in the third quarter worth $36,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Procore Technologies in the third quarter worth $40,000. Finally, Captrust Financial Advisors grew its stake in shares of Procore Technologies by 55.8% in the second quarter. Captrust Financial Advisors now owns 916 shares of the company’s stock worth $42,000 after acquiring an additional 328 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Stock Down 2.0 %

PCOR stock opened at $73.44 on Friday. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The business’s 50-day moving average is $77.23 and its two-hundred day moving average is $68.57. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $10.64 billion, a price-to-earnings ratio of -55.22 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. The company had revenue of $260.04 million for the quarter, compared to the consensus estimate of $248.20 million. As a group, analysts forecast that Procore Technologies, Inc. will post -0.64 earnings per share for the current year.

Insider Transactions at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 6,041 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $446,429.90. Following the transaction, the senior vice president now owns 77,768 shares of the company’s stock, valued at $5,747,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP William Fred Fleming, Jr. sold 6,041 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $446,429.90. Following the transaction, the senior vice president now owns 77,768 shares of the company’s stock, valued at $5,747,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Howard Fu sold 1,142 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $69.67, for a total value of $79,563.14. Following the completion of the transaction, the chief financial officer now directly owns 144,608 shares in the company, valued at approximately $10,074,839.36. The disclosure for this sale can be found here. Insiders have sold 467,373 shares of company stock valued at $36,589,678 over the last quarter. 39.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PCOR has been the topic of a number of recent research reports. Piper Sandler increased their target price on Procore Technologies from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. The Goldman Sachs Group upped their price target on Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. JMP Securities upped their price target on Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. BMO Capital Markets upped their price target on Procore Technologies from $76.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus upped their price target on Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and an average target price of $81.86.

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.