Oppenheimer Asset Management Inc. Purchases Shares of 75,534 Procore Technologies, Inc. $PCOR

Oppenheimer Asset Management Inc. acquired a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 75,534 shares of the company’s stock, valued at approximately $3,068,000. Oppenheimer Asset Management Inc. owned 0.05% of Procore Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PCOR. Argos Wealth Advisors LLC boosted its holdings in Procore Technologies by 3.9% in the first quarter. Argos Wealth Advisors LLC now owns 5,154 shares of the company’s stock valued at $294,000 after acquiring an additional 195 shares during the last quarter. Intellectus Partners LLC increased its stake in Procore Technologies by 1.6% during the fourth quarter. Intellectus Partners LLC now owns 12,705 shares of the company’s stock worth $924,000 after acquiring an additional 200 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in 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 acquiring an additional 202 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after purchasing an additional 204 shares during the period. Finally, Vident Advisory LLC raised its holdings in shares of Procore Technologies by 6.0% in the 4th quarter. Vident Advisory LLC now owns 3,860 shares of the company’s stock worth $281,000 after purchasing an additional 219 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCOR has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Procore Technologies in a research note on Monday, July 6th. BTIG Research reissued a “buy” rating and set a $66.00 target price on shares of Procore Technologies in a research report on Friday, July 24th. Citigroup restated a “market outperform” rating on shares of Procore Technologies in a report on Tuesday, July 21st. Guggenheim began coverage on shares of Procore Technologies in a research report on Thursday, July 23rd. They set a “buy” rating and a $68.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Procore Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and an average target price of $70.44.

Procore Technologies Price Performance

Shares of PCOR stock opened at $59.65 on Friday. The company’s fifty day moving average price is $46.45 and its two-hundred day moving average price is $51.16. The firm has a market capitalization of $9.06 billion, a P/E ratio of -229.40 and a beta of 0.70. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $82.32.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The company had revenue of $375.21 million during the quarter, compared to the consensus estimate of $365.82 million. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post 0.09 EPS for the current year.

Insiders Place Their Bets

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $45.14, for a total value of $2,533,347.08. Following the transaction, the chairman directly owned 919,704 shares of the company’s stock, valued at $41,515,438.56. This represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Benjamin C. Singer sold 3,942 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $50.00, for a total value of $197,100.00. Following the transaction, the insider owned 96,723 shares of the company’s stock, valued at approximately $4,836,150. This trade represents a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 222,699 shares of company stock worth $10,988,945. Company insiders own 16.80% of the company’s stock.

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.