Ameriprise Financial Inc. Sells 106,462 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Ameriprise Financial Inc. reduced its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 955,709 shares of the company's stock after selling 106,462 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.64% of Procore Technologies worth $71,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ancora Advisors LLC boosted its holdings in Procore Technologies by 10,625.0% in the fourth quarter. Ancora Advisors LLC now owns 858 shares of the company's stock valued at $64,000 after purchasing an additional 850 shares during the period. AXA S.A. boosted its stake in shares of Procore Technologies by 11.4% in the 4th quarter. AXA S.A. now owns 994,757 shares of the company's stock valued at $74,537,000 after buying an additional 101,927 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Procore Technologies during the fourth quarter worth about $273,000. Comerica Bank grew its position in shares of Procore Technologies by 87.0% during the fourth quarter. Comerica Bank now owns 131,316 shares of the company's stock worth $9,839,000 after buying an additional 61,082 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Procore Technologies by 17.0% during the fourth quarter. Northern Trust Corp now owns 594,668 shares of the company's stock worth $44,558,000 after buying an additional 86,192 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Stock Performance

Shares of Procore Technologies stock traded down $0.59 during trading hours on Thursday, hitting $71.25. 287,758 shares of the company were exchanged, compared to its average volume of 1,717,095. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $64.72 and a 200-day moving average of $72.49. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of -98.98 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $310.63 million for the quarter, compared to analysts' expectations of $302.66 million. During the same period in the previous year, the company posted $0.30 EPS. Procore Technologies's revenue was up 15.3% compared to the same quarter last year. As a group, analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 1,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $65.60, for a total value of $65,600.00. Following the completion of the transaction, the executive now owns 217,868 shares in the company, valued at approximately $14,292,140.80. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now owns 200 shares in the company, valued at $17,480. The trade was a 84.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,142 shares of company stock worth $4,119,407 over the last 90 days. Company insiders own 29.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PCOR shares. DA Davidson upgraded shares of Procore Technologies to a "hold" rating in a research note on Tuesday. KeyCorp lowered their target price on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a report on Monday, April 21st. JMP Securities increased their target price on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 18th. Barclays boosted their price target on shares of Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, UBS Group decreased their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $80.24.

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.