Diversified Trust Co. Decreases Holdings in Procore Technologies, Inc. $PCOR

Diversified Trust Co. trimmed its position in Procore Technologies, Inc. (NYSE:PCOR) by 60.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,434 shares of the company’s stock after selling 22,032 shares during the period. Diversified Trust Co.’s holdings in Procore Technologies were worth $1,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PCOR. Brighton Jones LLC purchased a new stake in shares of Procore Technologies during the 4th quarter valued at $511,000. Goldman Sachs Group Inc. grew its stake in Procore Technologies by 5.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company’s stock worth $48,392,000 after buying an additional 36,426 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Procore Technologies by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company’s stock valued at $23,156,000 after buying an additional 52,507 shares in the last quarter. Creative Planning increased its position in Procore Technologies by 5.5% during the 2nd quarter. Creative Planning now owns 11,775 shares of the company’s stock valued at $806,000 after buying an additional 610 shares in the last quarter. Finally, Swiss National Bank raised its stake in Procore Technologies by 6.5% in the second quarter. Swiss National Bank now owns 214,700 shares of the company’s stock valued at $14,690,000 after buying an additional 13,100 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCOR has been the subject of several recent analyst reports. BMO Capital Markets lowered their price target on Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Barclays cut their price objective on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Zacks Research raised shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Wall Street Zen cut shares of Procore Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, BTIG Research reissued a “buy” rating and set a $66.00 target price on shares of Procore Technologies in a research report on Wednesday, March 11th. Seventeen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.05.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,121 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $57.23, for a total transaction of $3,211,804.83. Following the completion of the transaction, the chairman directly owned 927,580 shares of the company’s stock, valued at approximately $53,085,403.40. This trade represents a 5.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin C. Singer sold 4,225 shares of Procore Technologies stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total transaction of $211,250.00. Following the sale, the insider owned 64,660 shares of the company’s stock, valued at approximately $3,233,000. The trade was a 6.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 94,641 shares of company stock worth $5,369,546 in the last 90 days. Corporate insiders own 21.50% of the company’s stock.

Procore Technologies Stock Up 2.8%

Procore Technologies stock opened at $57.53 on Friday. The business’s 50-day simple moving average is $56.71 and its two-hundred day simple moving average is $67.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $8.64 billion, a PE ratio of -85.87 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $82.32.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The firm had revenue of $349.11 million during the quarter, compared to analysts’ expectations of $340.80 million. During the same period last year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

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.