Coldstream Capital Management Inc. Sells 420 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Coldstream Capital Management Inc. reduced its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 11.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,344 shares of the company’s stock after selling 420 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Procore Technologies were worth $251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Diversified Trust Co lifted its stake in Procore Technologies by 157.1% during the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock worth $3,795,000 after purchasing an additional 30,948 shares during the last quarter. US Bancorp DE lifted its position in Procore Technologies by 18.8% in the 4th quarter. US Bancorp DE now owns 21,416 shares of the company’s stock worth $1,605,000 after buying an additional 3,390 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Procore Technologies in the fourth quarter worth approximately $20,729,000. Barclays PLC grew its position in Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock valued at $4,259,000 after acquiring an additional 22,734 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Procore Technologies during the fourth quarter valued at approximately $56,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Procore Technologies from $95.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Jefferies Financial Group cut their price target on shares of Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, March 31st. UBS Group decreased their price objective on Procore Technologies from $110.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Scotiabank dropped their target price on Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating for the company in a report on Thursday, April 24th. Finally, Mizuho decreased their price target on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.18.

Insiders Place Their Bets

In other Procore Technologies news, CFO Howard Fu sold 1,480 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $60.02, for a total value of $88,829.60. Following the sale, the chief financial officer now owns 206,704 shares in the company, valued at approximately $12,406,374.08. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the transaction, the insider now directly owns 200 shares of the company’s stock, valued at $17,480. This represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,962 shares of company stock worth $5,041,588. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Trading Down 1.4 %

Shares of PCOR opened at $63.16 on Friday. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of -87.72 and a beta of 0.90. The firm’s 50-day moving average price is $66.19 and its 200-day moving average price is $72.20. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The firm had revenue of $302.05 million for the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

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.