Cetera Investment Advisers Acquires 29,030 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Cetera Investment Advisers grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 497.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 34,871 shares of the company's stock after acquiring an additional 29,030 shares during the quarter. Cetera Investment Advisers' holdings in Procore Technologies were worth $2,613,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after buying an additional 147 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after buying an additional 162 shares in the last quarter. Huntington National Bank raised its holdings in shares of Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after buying an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Procore Technologies by 1,434.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock worth $54,000 after buying an additional 674 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Procore Technologies during the 4th quarter worth $56,000. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PCOR shares. Piper Sandler lowered their target price on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Macquarie lowered their target price on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. KeyCorp lowered their target price on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Jefferies Financial Group lowered their target price on Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Stifel Nicolaus lowered their target price on Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Procore Technologies has an average rating of "Moderate Buy" and an average price target of $80.24.

Procore Technologies Trading Down 0.5%

Shares of Procore Technologies stock traded down $0.37 on Friday, hitting $67.30. 1,188,732 shares of the company's stock traded hands, compared to its average volume of 1,714,917. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. 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 has a fifty day moving average of $64.91 and a two-hundred day moving average of $72.70. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of -93.47 and a beta of 0.90.

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

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $67.10, for a total value of $344,088.80. Following the transaction, the director now owns 1,226,240 shares in the company, valued at approximately $82,280,704. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Howard Fu sold 2,642 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $77.05, for a total value of $203,566.10. Following the completion of the transaction, the chief financial officer now owns 147,350 shares in the company, valued at approximately $11,353,317.50. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,623 shares of company stock worth $3,144,659 in the last 90 days. Corporate insiders own 29.00% of the company's stock.

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.