Cetera Investment Advisers Has $2.50 Million Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Cetera Investment Advisers increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,843 shares of the company’s stock after acquiring an additional 2,972 shares during the period. Cetera Investment Advisers’ holdings in Procore Technologies were worth $2,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd boosted its position 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 acquiring an additional 544 shares in the last quarter. Ancora Advisors LLC boosted its position 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 acquiring an additional 850 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Procore Technologies by 174.2% during the 1st quarter. Versant Capital Management Inc now owns 1,001 shares of the company’s stock worth $66,000 after acquiring an additional 636 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of Procore Technologies during the 4th quarter worth approximately $78,000. Finally, Signaturefd LLC boosted its position in shares of Procore Technologies by 53.4% during the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock worth $79,000 after acquiring an additional 419 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In related news, insider Benjamin C. Singer sold 4,500 shares of Procore Technologies stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $75.00, for a total transaction of $337,500.00. Following the completion of the transaction, the insider owned 97,557 shares of the company’s stock, valued at $7,316,775. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J.G. Griffith sold 309,168 shares of Procore Technologies stock in a transaction on Friday, June 13th. The stock was sold at an average price of $64.76, for a total transaction of $20,021,719.68. Following the transaction, the director directly owned 1,893,458 shares of the company’s stock, valued at $122,620,340.08. This represents a 14.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 672,447 shares of company stock valued at $43,878,843 over the last three months. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $63.70 on Thursday. Procore Technologies, Inc. has a twelve month low of $51.65 and a twelve month high of $88.92. The firm has a fifty day simple moving average of $69.42 and a 200 day simple moving average of $69.98. The company has a market capitalization of $9.57 billion, a PE ratio of -66.36 and a beta of 0.90. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The business had revenue of $323.92 million during the quarter, compared to the consensus estimate of $311.91 million. During the same quarter last year, the firm earned $0.39 earnings per share. Procore Technologies’s quarterly revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Arete assumed coverage on shares of Procore Technologies in a research report on Monday, June 16th. They issued a “buy” rating and a $91.00 target price on the stock. KeyCorp raised their target price on shares of Procore Technologies from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Robert W. Baird raised their target price on shares of Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. BMO Capital Markets raised their target price on shares of Procore Technologies from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Citizens Jmp lowered shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 1st. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.06.

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.