Citizens Financial Group Inc. RI Buys Shares of 23,729 Procore Technologies, Inc. $PCOR

Citizens Financial Group Inc. RI purchased a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 23,729 shares of the company's stock, valued at approximately $964,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PCOR. Argos Wealth Advisors LLC increased its position in Procore Technologies by 3.9% during the first quarter. Argos Wealth Advisors LLC now owns 5,154 shares of the company's stock valued at $294,000 after acquiring an additional 195 shares during the last quarter. Intellectus Partners LLC lifted its holdings in Procore Technologies by 1.6% in the fourth quarter. Intellectus Partners LLC now owns 12,705 shares of the company's stock valued at $924,000 after acquiring an additional 200 shares during the period. Chicago Partners Investment Group LLC boosted its position in Procore Technologies by 1.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 14,685 shares of the company's stock worth $1,068,000 after purchasing an additional 202 shares during the last quarter. Allworth Financial LP grew its stake in shares of Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company's stock valued at $46,000 after purchasing an additional 204 shares during the period. Finally, Vident Advisory LLC grew its stake in shares of Procore Technologies by 6.0% during the 4th quarter. Vident Advisory LLC now owns 3,860 shares of the company's stock valued at $281,000 after purchasing an additional 219 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $54.98, for a total value of $422,906.16. Following the transaction, the director owned 939,054 shares of the company's stock, valued at $51,629,188.92. The trade was a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $57.11, for a total value of $3,205,127.42. Following the completion of the sale, the chairman owned 919,704 shares of the company's stock, valued at approximately $52,524,295.44. This trade represents a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 222,699 shares of company stock valued at $10,988,945. Company insiders own 16.80% of the company's stock.

Procore Technologies Price Performance

Shares of PCOR opened at $59.94 on Wednesday. Procore Technologies, Inc. has a 1 year low of $38.03 and a 1 year high of $82.32. The company has a 50 day simple moving average of $46.95 and a two-hundred day simple moving average of $51.01. The firm has a market cap of $9.11 billion, a P/E ratio of -230.52 and a beta of 0.70.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The firm had revenue of $375.21 million during the quarter, compared to analyst estimates of $365.82 million. During the same quarter last year, the business posted $0.35 earnings per share. The business's quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post 0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PCOR shares. Guggenheim began coverage on shares of Procore Technologies in a research note on Thursday, July 23rd. They issued a "buy" rating and a $68.00 price objective on the stock. BMO Capital Markets boosted their target price on shares of Procore Technologies from $56.00 to $67.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. TD Cowen reduced their target price on shares of Procore Technologies from $70.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. The Goldman Sachs Group decreased their price target on shares of Procore Technologies from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Finally, Jefferies Financial Group decreased their price target on shares of Procore Technologies from $95.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.44.

Procore Technologies Company 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

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