Cwm LLC Reduces Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Cwm LLC lowered its position in Procore Technologies, Inc. (NYSE:PCOR) by 13.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,835 shares of the company’s stock after selling 5,374 shares during the quarter. Cwm LLC’s holdings in Procore Technologies were worth $2,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the period. Sycomore Asset Management boosted its stake in Procore Technologies by 61.1% during the second quarter. Sycomore Asset Management now owns 174,723 shares of the company’s stock worth $11,016,000 after buying an additional 66,248 shares during the period. Ariadne Wealth Management LP purchased a new position in Procore Technologies during the second quarter worth about $501,000. Quarry LP boosted its stake in Procore Technologies by 984.6% during the second quarter. Quarry LP now owns 1,128 shares of the company’s stock worth $75,000 after buying an additional 1,024 shares during the period. Finally, Algert Global LLC boosted its stake in Procore Technologies by 15.8% during the second quarter. Algert Global LLC now owns 34,006 shares of the company’s stock worth $2,255,000 after buying an additional 4,646 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the completion of the sale, the senior vice president now owns 79,156 shares in the company, valued at approximately $4,681,285.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Procore Technologies news, Director Connor Kevin J. O sold 3,846 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $53.65, for a total value of $206,337.90. Following the completion of the transaction, the director now owns 1,444,313 shares in the company, valued at $77,487,392.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total value of $160,091.98. Following the completion of the transaction, the senior vice president now owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,890 shares of company stock worth $5,807,691 in the last 90 days. 29.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PCOR has been the topic of several research reports. KeyCorp reduced their price target on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price objective on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus lowered their target price on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird assumed coverage on shares of Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.13.

Procore Technologies Trading Down 0.2 %

Shares of PCOR stock opened at $62.86 on Tuesday. The firm has a 50-day moving average price of $58.20 and a 200 day moving average price of $65.10. Procore Technologies, Inc. has a twelve month low of $48.11 and a twelve month high of $83.35. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of -65.48 and a beta of 0.73. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14. The company had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $275.26 million. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The firm’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.28) EPS. Research analysts forecast that Procore Technologies, Inc. will post -0.28 earnings per share for the current fiscal year.

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.