WESPAC Advisors LLC Invests $781,000 in Procore Technologies, Inc. (NYSE:PCOR)

WESPAC Advisors LLC purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,835 shares of the company's stock, valued at approximately $781,000.

Several other institutional investors have also recently made changes to their positions in PCOR. Brighton Jones LLC bought a new position in Procore Technologies in the 4th quarter worth about $511,000. Charles Schwab Investment Management Inc. boosted its holdings in Procore Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 700,857 shares of the company's stock valued at $52,515,000 after acquiring an additional 18,554 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Procore Technologies by 31.5% in the fourth quarter. Victory Capital Management Inc. now owns 82,688 shares of the company's stock worth $6,196,000 after purchasing an additional 19,791 shares during the last quarter. Atria Investments Inc grew its holdings in Procore Technologies by 35.5% in the 4th quarter. Atria Investments Inc now owns 6,705 shares of the company's stock worth $502,000 after acquiring an additional 1,755 shares during the last quarter. Finally, M&T Bank Corp raised its position in Procore Technologies by 17.9% during the 4th quarter. M&T Bank Corp now owns 4,766 shares of the company's stock valued at $358,000 after purchasing an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PCOR shares. JPMorgan Chase & Co. lowered their target price on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets cut their price target on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. DA Davidson upgraded Procore Technologies to a "hold" rating in a report on Tuesday, May 13th. Stifel Nicolaus cut their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Jefferies Financial Group lowered their price objective on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.39.

Procore Technologies Trading Up 0.0%

PCOR traded up $0.02 during trading on Monday, reaching $71.59. The company had a trading volume of 1,475,843 shares, compared to its average volume of 1,337,273. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The stock has a market cap of $10.68 billion, a P/E ratio of -83.24 and a beta of 0.89. The business has a 50 day simple moving average of $68.27 and a 200-day simple moving average of $70.48.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $310.63 million during the quarter, compared to analyst estimates of $302.66 million. Procore Technologies had a negative return on equity of 6.54% and a negative net margin of 10.73%. Procore Technologies's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. On average, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 4,500 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $75.00, for a total transaction of $337,500.00. Following the transaction, the insider directly owned 97,557 shares in the company, valued at $7,316,775. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn Bueker sold 7,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $72.43, for a total transaction of $507,010.00. Following the completion of the sale, the director directly owned 16,932 shares of the company's stock, valued at approximately $1,226,384.76. This trade represents a 29.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 671,723 shares of company stock valued at $43,802,902. 29.00% of the stock is owned by corporate insiders.

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.