HighTower Advisors LLC Has $1.20 Million Holdings in Procore Technologies, Inc. (NYSE:PCOR)

HighTower Advisors LLC lessened its stake in Procore Technologies, Inc. (NYSE:PCOR) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,534 shares of the company’s stock after selling 460 shares during the quarter. HighTower Advisors LLC’s holdings in Procore Technologies were worth $1,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Procore Technologies by 76.4% in the third 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 in the third quarter valued at approximately $26,000. Signaturefd LLC boosted its holdings in shares of 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 buying an additional 216 shares during the period. Rothschild Investment LLC acquired a new position in Procore Technologies during the second quarter worth $51,000. Finally, International Assets Investment Management LLC boosted its holdings in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after purchasing an additional 789 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Price Performance

Shares of PCOR opened at $77.70 on Tuesday. The firm has a market capitalization of $11.55 billion, a PE ratio of -155.40 and a beta of 0.82. The company’s 50-day moving average is $71.18 and its 200-day moving average is $65.33. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

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 the consensus estimate of ($0.11). The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Equities analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Insider Activity

In related news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction 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 approximately $54,979,882.88. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Fu sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $71.75, for a total transaction of $107,625.00. Following the transaction, the chief financial officer now directly owns 171,997 shares in the company, valued at approximately $12,340,784.75. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,321 shares of company stock valued at $10,664,711 over the last ninety days. 29.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PCOR has been the subject of several recent research reports. BMO Capital Markets increased their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus increased their target price on shares of Procore Technologies from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. KeyCorp increased their target price on shares of Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. The Goldman Sachs Group increased their target price on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, DA Davidson increased their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.71.

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.