HB Wealth Management LLC Has $1.40 Million Holdings in Procore Technologies, Inc. $PCOR

HB Wealth Management LLC decreased its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 38.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,473 shares of the company’s stock after selling 15,582 shares during the period. HB Wealth Management LLC’s holdings in Procore Technologies were worth $1,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Argos Wealth Advisors LLC boosted its stake in Procore Technologies by 3.9% in the 1st quarter. Argos Wealth Advisors LLC now owns 5,154 shares of the company’s stock worth $294,000 after purchasing an additional 195 shares during the period. Intellectus Partners LLC lifted its holdings in shares of Procore Technologies by 1.6% in the fourth quarter. Intellectus Partners LLC now owns 12,705 shares of the company’s stock valued at $924,000 after purchasing an additional 200 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Procore Technologies by 1.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 14,685 shares of the company’s stock worth $1,068,000 after buying an additional 202 shares during the period. Allworth Financial LP boosted its position in shares of Procore Technologies by 48.2% during the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after buying an additional 204 shares during the period. Finally, Vident Advisory LLC grew its holdings in shares of Procore Technologies by 6.0% during the fourth quarter. Vident Advisory LLC now owns 3,860 shares of the company’s stock worth $281,000 after buying an additional 219 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Procore Technologies

In related news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $45.14, for a total transaction of $2,533,347.08. Following the transaction, the chairman directly owned 919,704 shares in the company, valued at approximately $41,515,438.56. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 5,775 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $42.92, for a total transaction of $247,863.00. Following the sale, the director directly owned 979,439 shares in the company, valued at $42,037,521.88. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 195,390 shares of company stock valued at $9,296,366. 16.80% of the stock is owned by corporate insiders.

Procore Technologies Stock Performance

Shares of NYSE PCOR opened at $44.83 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50 day moving average price of $46.62 and a 200 day moving average price of $55.31. The stock has a market capitalization of $6.76 billion, a PE ratio of -87.90 and a beta of 0.75. Procore Technologies, Inc. has a 52 week low of $38.03 and a 52 week high of $82.32.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.The company had revenue of $359.28 million for the quarter, compared to analyst estimates of $352.82 million. During the same period last year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. Analysts predict that Procore Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PCOR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Procore Technologies in a research report on Monday. The Goldman Sachs Group decreased their price target on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Citizens Jmp upgraded shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price objective on the stock in a report on Wednesday, April 29th. Zacks Research upgraded shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. Finally, TD Cowen cut their price objective on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $71.33.

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. 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.