Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in Procore Technologies, Inc. (NYSE:PCOR) by 8.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,702 shares of the company’s stock after acquiring an additional 613 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Procore Technologies were worth $508,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PCOR. Huntington National Bank raised its holdings in Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after purchasing an additional 404 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Procore Technologies by 1,434.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after buying an additional 674 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Procore Technologies during the 4th quarter worth approximately $56,000. Aster Capital Management DIFC Ltd raised its stake in shares of Procore Technologies by 181.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company’s stock worth $63,000 after buying an additional 544 shares during the period. Finally, Ancora Advisors LLC raised its stake in shares of Procore Technologies by 10,625.0% during the 4th quarter. Ancora Advisors LLC now owns 858 shares of the company’s stock worth $64,000 after buying an additional 850 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.34, for a total transaction of $502,595.28. Following the completion of the sale, the director directly owned 1,177,516 shares in the company, valued at $76,938,895.44. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Iconiq Strategic Partners Iv, sold 116,365 shares of Procore Technologies stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $64.76, for a total transaction of $7,535,797.40. Following the sale, the insider owned 1,893,458 shares of the company’s stock, valued at approximately $122,620,340.08. This represents a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 660,412 shares of company stock valued at $42,834,653 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Price Performance

Procore Technologies stock opened at $72.24 on Friday. The company has a 50-day moving average price of $67.43 and a 200 day moving average price of $70.68. The stock has a market cap of $10.78 billion, a P/E ratio of -84.00 and a beta of 0.89. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on PCOR. Mizuho reduced their price objective on shares of Procore Technologies from $75.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. BMO Capital Markets reduced their price target on shares of Procore Technologies from $95.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Jefferies Financial Group reduced their target price on Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a report on Monday, March 31st. Arete began coverage on Procore Technologies in a report on Monday, June 16th. They set a “buy” rating and a $91.00 target price for the company. Finally, Macquarie reduced their price objective on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.83.

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.