HB Wealth Management LLC Invests $2.93 Million in Procore Technologies, Inc. $PCOR

HB Wealth Management LLC bought a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 40,114 shares of the company’s stock, valued at approximately $2,925,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its position in shares of Procore Technologies by 58.4% during the second quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company’s stock worth $318,592,000 after buying an additional 1,717,492 shares during the period. Assenagon Asset Management S.A. lifted its stake in Procore Technologies by 76.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock worth $294,449,000 after acquiring an additional 1,750,998 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Procore Technologies by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,282,582 shares of the company’s stock worth $224,594,000 after acquiring an additional 23,038 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Procore Technologies by 73.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,259,420 shares of the company’s stock worth $154,590,000 after acquiring an additional 955,450 shares in the last quarter. Finally, State Street Corp boosted its holdings in Procore Technologies by 3.1% during the 2nd quarter. State Street Corp now owns 1,935,851 shares of the company’s stock valued at $132,451,000 after acquiring an additional 58,242 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Trading Down 0.4%

Shares of NYSE:PCOR opened at $73.49 on Friday. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92. The company’s 50 day moving average is $74.50 and its two-hundred day moving average is $71.87. The company has a market cap of $11.43 billion, a PE ratio of -87.48 and a beta of 0.90. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Robert W. Baird upped their target price on shares of Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. BMO Capital Markets increased their target price on shares of Procore Technologies from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. DA Davidson upgraded shares of Procore Technologies to a “hold” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.11.

Insider Activity at Procore Technologies

In other news, Director William J.G. Griffith sold 207,474 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $72.30, for a total value of $15,000,370.20. Following the transaction, the director owned 3,244,546 shares in the company, valued at approximately $234,580,675.80. This represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $72.70, for a total value of $5,452,500.00. Following the sale, the chairman directly owned 1,155,480 shares in the company, valued at $84,003,396. This trade represents a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 691,517 shares of company stock worth $50,373,958 over the last three months. Company insiders own 21.50% of the company’s stock.

Procore Technologies Company 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.