Procore Technologies, Inc. $PCOR Shares Sold by Fiera Capital Corp

Fiera Capital Corp reduced its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 663,523 shares of the company’s stock after selling 16,308 shares during the quarter. Fiera Capital Corp owned 0.44% of Procore Technologies worth $48,384,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in shares of Procore Technologies by 12.2% in the third quarter. Principal Financial Group Inc. now owns 3,301,569 shares of the company’s stock worth $240,753,000 after acquiring an additional 360,207 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Procore Technologies during the 3rd quarter valued at approximately $1,442,000. Envestnet Asset Management Inc. increased its holdings in Procore Technologies by 31.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 419,735 shares of the company’s stock worth $30,607,000 after purchasing an additional 99,706 shares during the last quarter. Federated Hermes Inc. increased its holdings in Procore Technologies by 17.0% during the 2nd quarter. Federated Hermes Inc. now owns 304,219 shares of the company’s stock worth $20,815,000 after purchasing an additional 44,105 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its position in shares of Procore Technologies by 19.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 365,149 shares of the company’s stock valued at $26,627,000 after purchasing an additional 59,923 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Trading Down 2.0%

Procore Technologies stock opened at $52.00 on Friday. Procore Technologies, Inc. has a 1 year low of $46.08 and a 1 year high of $85.75. The firm’s 50-day moving average is $65.19 and its 200-day moving average is $69.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $8.08 billion, a P/E ratio of -77.61 and a beta of 0.89.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 4.00%. The firm had revenue of $349.11 million for the quarter, compared to analyst estimates of $340.80 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. Procore Technologies’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PCOR. DA Davidson decreased their price target on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Wall Street Zen downgraded shares of Procore Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. UBS Group dropped their target price on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. Zacks Research lowered shares of Procore Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Robert W. Baird increased their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Seventeen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.95.

Insiders Place Their Bets

In related news, Director William J.G. Griffith sold 207,474 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $72.30, for a total transaction of $15,000,370.20. Following the completion of the transaction, the director directly owned 3,244,546 shares in the company, valued at $234,580,675.80. This represents a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 7,692 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $64.31, for a total value of $494,672.52. Following the completion of the sale, the director owned 1,035,212 shares in the company, valued at $66,574,483.72. The trade was a 0.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 311,391 shares of company stock worth $22,541,570. 21.50% of the stock is currently owned by insiders.

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. 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.