Bank of Montreal Can Buys 1,523 Shares of Procore Technologies, Inc. $PCOR

Bank of Montreal Can lifted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,138 shares of the company’s stock after purchasing an additional 1,523 shares during the period. Bank of Montreal Can’s holdings in Procore Technologies were worth $830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Intellectus Partners LLC lifted its holdings in Procore Technologies by 135.3% in the second quarter. Intellectus Partners LLC now owns 12,305 shares of the company’s stock worth $842,000 after buying an additional 7,075 shares during the period. ANTIPODES PARTNERS Ltd raised its position in shares of Procore Technologies by 99.9% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 197,781 shares of the company’s stock worth $13,533,000 after acquiring an additional 98,847 shares in the last quarter. Strs Ohio purchased a new position in shares of Procore Technologies in the 2nd quarter valued at approximately $1,205,000. Amalgamated Bank boosted its position in shares of Procore Technologies by 17.6% during the second quarter. Amalgamated Bank now owns 8,669 shares of the company’s stock valued at $593,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Atria Investments Inc grew its stake in Procore Technologies by 7.8% in the second quarter. Atria Investments Inc now owns 14,595 shares of the company’s stock worth $999,000 after purchasing an additional 1,059 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insiders Place Their Bets

In other news, SVP William Fred Fleming, Jr. sold 22,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $78.77, for a total value of $1,732,940.00. Following the transaction, the senior vice president owned 63,309 shares in the company, valued at $4,986,849.93. This represents a 25.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Fu sold 814 shares of the business’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $72.34, for a total transaction of $58,884.76. Following the sale, the chief financial officer owned 187,847 shares of the company’s stock, valued at $13,588,851.98. This trade represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 105,035 shares of company stock valued at $7,928,717. 21.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on PCOR shares. Piper Sandler raised their price objective on Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. KeyCorp lifted their price target on shares of Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Berenberg Bank initiated coverage on shares of Procore Technologies in a research note on Friday, October 3rd. They set a “buy” rating and a $84.00 price objective on the stock. JMP Securities restated a “market perform” rating and issued a $95.00 price objective on shares of Procore Technologies in a report on Friday, August 1st. Finally, Canaccord Genuity Group lifted their target price on shares of Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Fifteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $84.26.

Procore Technologies Stock Performance

Shares of NYSE PCOR opened at $75.49 on Friday. The company has a market cap of $11.74 billion, a PE ratio of -89.87 and a beta of 0.90. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $73.05 and its 200-day moving average price is $69.96. Procore Technologies, Inc. has a 52-week low of $53.71 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The firm had revenue of $172.21 million during the quarter. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Procore Technologies 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.