Burney Co. Lowers Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Burney Co. cut its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 27.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,040 shares of the company’s stock after selling 3,377 shares during the quarter. Burney Co.’s holdings in Procore Technologies were worth $677,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position 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 acquiring an additional 175 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Procore Technologies during the third quarter valued at $26,000. Versant Capital Management Inc lifted its holdings in shares of Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in Procore Technologies in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the completion of the transaction, the chief financial officer now owns 171,997 shares of the company’s stock, valued at $12,340,784.75. This represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $76.62, for a total value of $491,134.20. Following the completion of the sale, the director now directly owns 1,250,598 shares in the company, valued at $95,820,818.76. This trade represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,231 shares of company stock valued at $11,347,753 in the last three months. 29.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PCOR shares. UBS Group assumed coverage on shares of Procore Technologies in a report on Monday, December 2nd. They set a “buy” rating and a $105.00 price target on the stock. The Goldman Sachs Group raised 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. TD Cowen boosted their target price on shares of Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Piper Sandler lifted their price objective on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their target price on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Procore Technologies Stock Down 1.4 %

Shares of PCOR stock opened at $77.03 on Friday. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of -154.06 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company’s fifty day moving average price is $76.97 and its 200-day moving average price is $67.14. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $86.67.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Sell-side analysts expect that Procore Technologies, Inc. will post -0.22 EPS for the current fiscal 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.