5,112 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,112 shares of the company’s stock, valued at approximately $337,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Capital World Investors lifted its position in shares of Procore Technologies by 453.6% in the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock valued at $233,704,000 after acquiring an additional 2,555,612 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Procore Technologies in the 4th quarter valued at approximately $131,840,000. Champlain Investment Partners LLC purchased a new stake in shares of Procore Technologies in the 4th quarter valued at approximately $105,747,000. Alliancebernstein L.P. lifted its position in shares of Procore Technologies by 474.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,409,499 shares of the company’s stock valued at $105,614,000 after acquiring an additional 1,164,074 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Procore Technologies in the 4th quarter valued at approximately $86,387,000. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Stock Up 1.7%

Procore Technologies stock opened at $75.60 on Friday. The company has a market capitalization of $11.28 billion, a P/E ratio of -87.91 and a beta of 0.89. The firm’s fifty day simple moving average is $69.26 and its 200-day simple moving average is $70.37. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $310.63 million for the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. Procore Technologies’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. Sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity

In other Procore Technologies news, insider Benjamin C. Singer sold 4,500 shares of the company’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $75.00, for a total transaction of $337,500.00. Following the completion of the sale, the insider directly owned 97,557 shares in the company, valued at $7,316,775. This represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $64.76, for a total transaction of $12,485,922.28. Following the sale, the insider owned 3,137,255 shares of the company’s stock, valued at $203,168,633.80. This trade represents a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 672,447 shares of company stock worth $43,878,843. Insiders own 29.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler reduced their price target on shares of Procore Technologies from $110.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Arete started coverage on shares of Procore Technologies in a research report on Monday, June 16th. They issued a “buy” rating and a $91.00 target price for the company. DA Davidson upgraded shares of Procore Technologies to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group cut their target price 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. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.39.

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.