Fiera Capital Corp Reduces Stake in Procore Technologies, Inc. $PCOR

Fiera Capital Corp cut its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 679,831 shares of the company’s stock after selling 4,237 shares during the period. Fiera Capital Corp’s holdings in Procore Technologies were worth $46,514,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PCOR. US Bancorp DE raised its stake in shares of Procore Technologies by 5.5% during the 2nd quarter. US Bancorp DE now owns 21,638 shares of the company’s stock worth $1,480,000 after buying an additional 1,131 shares during the last quarter. Fred Alger Management LLC increased its holdings in Procore Technologies by 15.4% during the 1st quarter. Fred Alger Management LLC now owns 38,349 shares of the company’s stock valued at $2,532,000 after acquiring an additional 5,129 shares in the last quarter. Intellectus Partners LLC increased its holdings in Procore Technologies by 135.3% during the 2nd quarter. Intellectus Partners LLC now owns 12,305 shares of the company’s stock valued at $842,000 after acquiring an additional 7,075 shares in the last quarter. GC Wealth Management RIA LLC acquired a new position in Procore Technologies during the second quarter worth about $513,000. Finally, Brighton Jones LLC purchased a new stake in shares of Procore Technologies in the fourth quarter valued at about $511,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $77.95 on Thursday. The company has a market cap of $12.12 billion, a P/E ratio of -92.80 and a beta of 0.90. The business has a fifty day simple moving average of $72.82 and a 200-day simple moving average of $69.80. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 0.02.

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 for the quarter. Equities research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PCOR. JMP Securities reissued a “market perform” rating and set a $95.00 price objective on shares of Procore Technologies in a research note on Friday, August 1st. Mizuho raised their price target on Procore Technologies from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Berenberg Bank assumed coverage on Procore Technologies in a report on Friday, October 3rd. They issued a “buy” rating and a $84.00 price target for the company. Stifel Nicolaus increased their price objective on Procore Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Piper Sandler lifted their price objective on Procore Technologies from $82.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Fifteen 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.26.

Insiders Place Their Bets

In other Procore Technologies news, CFO Howard Fu sold 814 shares of the stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $72.34, for a total transaction of $58,884.76. Following the transaction, the chief financial officer owned 187,847 shares of the company’s stock, valued at $13,588,851.98. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $70.56, for a total transaction of $542,747.52. Following the completion of the transaction, the director owned 1,115,637 shares in the company, valued at approximately $78,719,346.72. This trade represents a 0.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 59,224 shares of company stock valued at $4,368,959. 21.50% of the stock is currently owned by corporate insiders.

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.