Procyon Advisors LLC Acquires 278 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Procyon Advisors LLC increased its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 8.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,514 shares of the company’s stock after buying an additional 278 shares during the period. Procyon Advisors LLC’s holdings in Procore Technologies were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of PCOR. Parkside Financial Bank & Trust increased its position in Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after acquiring an additional 162 shares in the last quarter. Huntington National Bank lifted its position in shares of Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after acquiring an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after acquiring an additional 674 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Procore Technologies in the fourth quarter worth $56,000. 81.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PCOR has been the topic of a number of research reports. Macquarie lowered their price target on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group cut their target price on Procore Technologies from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. KeyCorp cut their price objective on Procore Technologies from $96.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Scotiabank dropped their price target on Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Mizuho decreased their target price on shares of Procore Technologies from $75.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.24.

Procore Technologies Trading Down 0.4%

NYSE PCOR opened at $67.61 on Tuesday. The company’s fifty day simple moving average is $64.46 and its 200-day simple moving average is $72.39. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $10.09 billion, a P/E ratio of -93.90 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm had revenue of $310.63 million during the quarter, compared to analyst estimates of $302.66 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In related news, insider Benjamin C. Singer sold 4,203 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $68.91, for a total value of $289,628.73. Following the transaction, the insider now owns 102,057 shares in the company, valued at approximately $7,032,747.87. This represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $67.10, for a total value of $344,088.80. Following the sale, the director now directly owns 1,226,240 shares of the company’s stock, valued at $82,280,704. The trade was a 0.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,981 shares of company stock valued at $2,941,093. 29.00% of the stock is 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.