Bank of Montreal Can Boosts Stock Position in Procore Technologies, Inc. $PCOR

Bank of Montreal Can increased its position in Procore Technologies, Inc. (NYSE:PCOR) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,138 shares of the company’s stock after acquiring an additional 1,523 shares during the quarter. Bank of Montreal Can’s holdings in Procore Technologies were worth $830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in Procore Technologies during the fourth quarter valued at approximately $511,000. Signaturefd LLC raised its position in shares of Procore Technologies by 53.4% during the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock valued at $79,000 after purchasing an additional 419 shares during the period. Choreo LLC lifted its stake in shares of Procore Technologies by 21.7% during the 1st quarter. Choreo LLC now owns 3,991 shares of the company’s stock valued at $263,000 after buying an additional 711 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Procore Technologies during the 1st quarter valued at $2,779,000. Finally, 1888 Investments LLC bought a new position in Procore Technologies in the 1st quarter worth $258,000. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 22,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $78.77, for a total transaction of $1,732,940.00. Following the sale, the senior vice president directly owned 63,309 shares in the company, valued at approximately $4,986,849.93. This represents a 25.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 36,196 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $78.06, for a total transaction of $2,825,459.76. Following the completion of the transaction, the director directly owned 1,071,749 shares of the company’s stock, valued at approximately $83,660,726.94. The trade was a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 105,035 shares of company stock valued at $7,928,717 over the last ninety days. Corporate insiders own 21.50% of the company’s stock.

Procore Technologies Stock Performance

NYSE PCOR opened at $75.49 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.29. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92. The business has a 50 day simple moving average of $73.05 and a two-hundred day simple moving average of $69.96. The stock has a market capitalization of $11.74 billion, a PE ratio of -89.87 and a beta of 0.90.

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

Wall Street Analyst Weigh In

A number of research firms have commented on PCOR. Piper Sandler raised their price target on Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. Berenberg Bank started coverage on Procore Technologies in a report on Friday, October 3rd. They issued a “buy” rating and a $84.00 price target on the stock. BMO Capital Markets upped their price target on Procore Technologies from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, DA Davidson raised shares of Procore Technologies to a “hold” rating in a report on Friday, November 7th. Fifteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.26.

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.