Cetera Investment Advisers Cuts Position in Procore Technologies, Inc. $PCOR

Cetera Investment Advisers decreased its position in Procore Technologies, Inc. (NYSE:PCOR) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,247 shares of the company’s stock after selling 1,596 shares during the quarter. Cetera Investment Advisers’ holdings in Procore Technologies were worth $2,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCOR. Creative Planning increased its position in Procore Technologies by 5.5% in the second quarter. Creative Planning now owns 11,775 shares of the company’s stock worth $806,000 after purchasing an additional 610 shares during the last quarter. Advisors Capital Management LLC grew its stake in shares of Procore Technologies by 1.2% in the 2nd quarter. Advisors Capital Management LLC now owns 157,193 shares of the company’s stock worth $10,755,000 after buying an additional 1,824 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Procore Technologies by 10.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 43,251 shares of the company’s stock worth $2,959,000 after buying an additional 4,003 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Procore Technologies by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,918,606 shares of the company’s stock worth $131,292,000 after buying an additional 72,870 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC raised its position in shares of Procore Technologies by 1.0% during the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 91,399 shares of the company’s stock valued at $6,254,000 after buying an additional 941 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Price Performance

Shares of PCOR stock opened at $74.06 on Friday. The stock has a 50 day moving average price of $73.39 and a 200 day moving average price of $70.42. The firm has a market capitalization of $11.51 billion, a P/E ratio of -88.17 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. Procore Technologies, Inc. has a 52-week low of $53.71 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The business had revenue of $172.21 million during the quarter. As a group, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PCOR shares. William Blair reiterated an “outperform” rating on shares of Procore Technologies in a research report on Friday, October 17th. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Robert W. Baird boosted their target price on Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Canaccord Genuity Group increased their price target on Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Berenberg Bank began coverage on shares of Procore Technologies in a research note on Friday, October 3rd. They set a “buy” rating and a $84.00 price objective for the company. Thirteen 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 data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and an average target price of $84.47.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 9,615 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $76.37, for a total value of $734,297.55. Following the transaction, the director directly owned 1,062,134 shares in the company, valued at $81,115,173.58. This represents a 0.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Fu sold 797 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $69.35, for a total transaction of $55,271.95. Following the transaction, the chief financial officer directly owned 179,847 shares in the company, valued at approximately $12,472,389.45. This trade represents a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 397,342 shares of company stock worth $29,019,501 over the last 90 days. Corporate insiders own 21.50% of the company’s stock.

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.