Sequoia Financial Advisors LLC Acquires New Position in Procore Technologies, Inc. (NYSE:PCOR)

Sequoia Financial Advisors LLC bought a new position in Procore Technologies, Inc. (NYSE:PCOR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,357 shares of the company’s stock, valued at approximately $717,000.

A number of other institutional investors also recently modified their holdings of PCOR. Ellsworth Advisors LLC increased its stake in shares of Procore Technologies by 3.0% in the fourth quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock worth $408,000 after acquiring an additional 170 shares during the last quarter. Handelsbanken Fonder AB increased its position in Procore Technologies by 0.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 25,900 shares of the company’s stock worth $1,692,000 after purchasing an additional 200 shares during the last quarter. Pathstone Family Office LLC increased its position in Procore Technologies by 4.5% in the 4th quarter. Pathstone Family Office LLC now owns 4,692 shares of the company’s stock worth $228,000 after purchasing an additional 204 shares during the last quarter. Portside Wealth Group LLC raised its stake in shares of Procore Technologies by 7.5% during the 3rd quarter. Portside Wealth Group LLC now owns 3,311 shares of the company’s stock worth $215,000 after purchasing an additional 231 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Procore Technologies by 4.4% during the 3rd quarter. Caprock Group LLC now owns 6,430 shares of the company’s stock valued at $420,000 after buying an additional 273 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Activity at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 8,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $75.00, for a total value of $600,000.00. Following the transaction, the insider now directly owns 116,318 shares in the company, valued at approximately $8,723,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Craig F. Jr. Courtemanche sold 110,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $80.00, for a total value of $8,800,000.00. Following the transaction, the chief executive officer now directly owns 532,749 shares in the company, valued at $42,619,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin C. Singer sold 8,000 shares of Procore Technologies stock in a transaction on Friday, February 9th. The stock was sold at an average price of $75.00, for a total transaction of $600,000.00. Following the sale, the insider now directly owns 116,318 shares of the company’s stock, valued at approximately $8,723,850. The disclosure for this sale can be found here. Insiders sold a total of 467,373 shares of company stock valued at $36,589,678 over the last quarter. Corporate insiders own 39.20% of the company’s stock.

Procore Technologies Price Performance

PCOR opened at $72.80 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50 day moving average of $77.25 and a 200-day moving average of $68.64. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) 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 business had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. On average, equities analysts expect that Procore Technologies, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCOR has been the topic of several recent research reports. JMP Securities raised their price objective on shares of Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a research report on Friday, February 16th. Piper Sandler raised their price target on shares of Procore Technologies from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 16th. JPMorgan Chase & Co. lifted their price objective on shares of Procore Technologies from $76.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. KeyCorp raised their target price on Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, The Goldman Sachs Group boosted their price target on Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus 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.