OneDigital Investment Advisors LLC Raises Stake in Procore Technologies, Inc. (NYSE:PCOR)

OneDigital Investment Advisors LLC increased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,213 shares of the company’s stock after buying an additional 336 shares during the period. OneDigital Investment Advisors LLC’s holdings in Procore Technologies were worth $322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sycomore Asset Management increased its holdings in Procore Technologies by 26.0% during the 3rd quarter. Sycomore Asset Management now owns 220,137 shares of the company’s stock worth $13,567,000 after purchasing an additional 45,414 shares during the period. Curi RMB Capital LLC grew its position in shares of Procore Technologies by 17.6% during the 3rd quarter. Curi RMB Capital LLC now owns 105,909 shares of the company’s stock worth $6,537,000 after buying an additional 15,846 shares in the last quarter. KBC Group NV increased its stake in shares of Procore Technologies by 19.0% during the third quarter. KBC Group NV now owns 2,722 shares of the company’s stock valued at $168,000 after buying an additional 435 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Procore Technologies by 56.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 58,947 shares of the company’s stock valued at $3,638,000 after buying an additional 21,287 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Procore Technologies by 4.0% in the third quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $3,882,000 after acquiring an additional 2,432 shares during the period. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PCOR. BMO Capital Markets cut their target price on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Scotiabank reduced their price objective on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group increased their target price on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Monday. Piper Sandler lifted their price target on Procore Technologies from $63.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Barclays upped their price objective on Procore Technologies from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.25.

Insiders Place Their Bets

In related news, major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $71.04, for a total transaction of $876,633.60. Following the sale, the insider now directly owns 2,284,989 shares of the company’s stock, valued at $162,325,618.56. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $70.47, for a total value of $361,370.16. Following the completion of the transaction, the director now directly owns 1,335,208 shares of the company’s stock, valued at $94,092,107.76. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,997 shares of company stock valued at $4,497,153. 29.00% of the stock is owned by insiders.

Procore Technologies Stock Up 6.7 %

NYSE:PCOR opened at $74.97 on Friday. The company’s 50 day moving average is $63.82 and its two-hundred day moving average is $63.92. The company has a market cap of $11.15 billion, a PE ratio of -149.94 and a beta of 0.71. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $83.35. 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 released its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Analysts anticipate that Procore Technologies, Inc. will post -0.23 EPS for the current year.

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.