HB Wealth Management LLC Purchases New Position in Procore Technologies, Inc. $PCOR

HB Wealth Management LLC acquired a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the 3rd quarter, Holdings Channel reports. The fund acquired 40,114 shares of the company’s stock, valued at approximately $2,925,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCOR. Global Retirement Partners LLC lifted its holdings in shares of Procore Technologies by 465.2% in the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after purchasing an additional 321 shares during the last quarter. Hilltop National Bank acquired a new position in Procore Technologies during the second quarter worth approximately $62,000. Elevation Point Wealth Partners LLC purchased a new stake in Procore Technologies in the second quarter valued at approximately $68,000. Farther Finance Advisors LLC boosted its holdings in shares of Procore Technologies by 304.5% in the third quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock valued at $112,000 after acquiring an additional 1,157 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Procore Technologies by 19.0% during the second quarter. Bessemer Group Inc. now owns 2,776 shares of the company’s stock worth $190,000 after acquiring an additional 443 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Activity

In other news, CRO Lawrence Joseph Stack sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $75.30, for a total transaction of $753,000.00. Following the transaction, the executive directly owned 184,128 shares of the company’s stock, valued at $13,864,838.40. This represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 owned 1,071,749 shares of the company’s stock, valued at $83,660,726.94. This represents a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 691,517 shares of company stock valued at $50,373,958 over the last three months. 21.50% of the stock is currently owned by corporate insiders.

Procore Technologies Trading Down 0.4%

NYSE PCOR opened at $73.49 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.43 billion, a P/E ratio of -87.48 and a beta of 0.90. Procore Technologies, Inc. has a 52-week low of $53.71 and a 52-week high of $88.92. The firm has a 50-day moving average price of $74.50 and a 200 day moving average price of $71.87.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Piper Sandler lifted their price objective on shares of Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Canaccord Genuity Group upped their target price on shares of Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Robert W. Baird raised their price target on Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of Procore Technologies in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.11.

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.