Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 3.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,204 shares of the company’s stock after buying an additional 143 shares during the period. CIBC Asset Management Inc’s holdings in Procore Technologies were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PCOR. GAMMA Investing LLC grew its holdings in Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after buying an additional 175 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Procore Technologies during the third quarter worth about $26,000. Signaturefd LLC grew its position in Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Procore Technologies in the second quarter valued at about $51,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PCOR shares. DA Davidson upped their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday. Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th. Scotiabank increased their price target on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday. Barclays raised their target price on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, BMO Capital Markets upped their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

Insider Activity

In other news, CFO Howard Fu sold 7,809 shares of Procore Technologies stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $557,250.24. Following the transaction, the chief financial officer now directly owns 164,188 shares in the company, valued at approximately $11,716,455.68. The trade was a 4.54 % 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, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $1,617,374.40. Following the transaction, the chief executive officer now directly owns 770,458 shares of the company’s stock, valued at $54,979,882.88. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,053 shares of company stock valued at $7,426,909 over the last 90 days. 29.00% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

Shares of PCOR opened at $76.67 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of -153.34 and a beta of 0.71. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. The company’s fifty day moving average is $64.19 and its 200-day moving average is $63.98.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The business had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Equities analysts expect that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Procore Technologies Company 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.