Cetera Investment Advisers Has $2.61 Million Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Cetera Investment Advisers boosted its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 497.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,871 shares of the company's stock after purchasing 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.

Several other hedge funds have also recently added to or reduced their stakes in PCOR. Parkside Financial Bank & Trust raised its position in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC raised its holdings in 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 during the period. Huntington National Bank lifted its stake in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after buying an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Procore Technologies by 1,434.0% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock valued at $54,000 after buying an additional 674 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Procore Technologies during the fourth quarter worth $56,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Scotiabank reduced their price objective on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. UBS Group dropped their target price on Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. KeyCorp cut their target price on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, DA Davidson raised shares of Procore Technologies to a "hold" rating in a research note on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.24.

Procore Technologies Stock Performance

PCOR traded down $2.37 on Wednesday, reaching $67.26. The company had a trading volume of 1,000,539 shares, compared to its average volume of 1,715,708. The stock has a market cap of $10.03 billion, a P/E ratio of -93.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The company's fifty day moving average is $65.00 and its 200 day moving average is $72.73.

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

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 7,700 shares of Procore Technologies stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total value of $436,359.00. Following the transaction, the director now owns 1,208,284 shares in the company, valued at $68,473,454.28. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares of the company's stock, valued at approximately $13,380,634.56. The trade was a 6.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,760 shares of company stock worth $4,391,604. Corporate insiders own 29.00% of the company's stock.

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.