Cache Advisors LLC Acquires 9,166 Shares of Procore Technologies, Inc. $PCOR

Cache Advisors LLC increased its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 34.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,852 shares of the company’s stock after acquiring an additional 9,166 shares during the period. Procore Technologies comprises approximately 0.3% of Cache Advisors LLC’s holdings, making the stock its 24th largest holding. Cache Advisors LLC’s holdings in Procore Technologies were worth $2,608,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Canton Hathaway LLC bought a new stake in Procore Technologies during the 4th quarter worth approximately $155,000. Robinhood Asset Management LLC bought a new stake in Procore Technologies during the 4th quarter worth about $7,136,000. Hanson & Doremus Investment Management grew its holdings in Procore Technologies by 3.2% during the 4th quarter. Hanson & Doremus Investment Management now owns 30,825 shares of the company’s stock worth $2,242,000 after acquiring an additional 952 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Procore Technologies by 6.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 662,928 shares of the company’s stock worth $46,431,000 after acquiring an additional 41,816 shares during the last quarter. Finally, First Bank & Trust grew its holdings in Procore Technologies by 5.4% during the 4th quarter. First Bank & Trust now owns 6,506 shares of the company’s stock worth $473,000 after acquiring an additional 331 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insider Transactions at Procore Technologies

In other news, Chairman Craig F. Jr. Courtemanche sold 56,121 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $57.23, for a total value of $3,211,804.83. Following the transaction, the chairman directly owned 927,580 shares in the company, valued at $53,085,403.40. This trade represents a 5.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Connor Kevin J. O sold 9,615 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $54.48, for a total value of $523,825.20. Following the completion of the transaction, the director owned 1,012,136 shares in the company, valued at $55,141,169.28. This represents a 0.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 93,827 shares of company stock worth $5,310,132 in the last three months. Insiders own 21.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BMO Capital Markets decreased their price objective on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. DA Davidson decreased their price objective on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. KeyCorp decreased their price objective on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Finally, Zacks Research upgraded Procore Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Fifteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.82.

Procore Technologies Stock Down 2.4%

Shares of NYSE PCOR opened at $54.57 on Thursday. The firm has a market capitalization of $8.19 billion, a PE ratio of -81.45 and a beta of 0.85. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 1 year low of $46.08 and a 1 year high of $82.32. The firm’s 50-day moving average is $55.16 and its 200-day moving average is $66.70.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $349.11 million for the quarter, compared to analyst estimates of $340.80 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. Equities analysts expect 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. 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.