Venturi Wealth Management LLC Cuts Holdings in Procore Technologies, Inc. (NYSE:PCOR)

by · The Markets Daily

Venturi Wealth Management LLC decreased its position in Procore Technologies, Inc. (NYSE:PCOR – Free Report) by 5.2% in the third quarter, Holdings Channel reports. The institutional investor owned 7,149 shares of the company’s stock after selling 389 shares during the period. Venturi Wealth Management LLC’s holdings in Procore Technologies were worth $467,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCOR. Handelsbanken Fonder AB grew its position in shares of Procore Technologies by 0.8% in the third quarter. Handelsbanken Fonder AB now owns 25,900 shares of the company’s stock valued at $1,692,000 after purchasing an additional 200 shares during the period. Headlands Technologies LLC grew its position in shares of Procore Technologies by 61.7% in the second quarter. Headlands Technologies LLC now owns 527 shares of the company’s stock valued at $34,000 after purchasing an additional 201 shares during the period. Pathstone Family Office LLC boosted its position in Procore Technologies by 4.5% during the fourth quarter. Pathstone Family Office LLC now owns 4,692 shares of the company’s stock worth $228,000 after acquiring an additional 204 shares during the last quarter. Portside Wealth Group LLC boosted its position in Procore Technologies by 7.5% during the third quarter. Portside Wealth Group LLC now owns 3,311 shares of the company’s stock worth $215,000 after acquiring an additional 231 shares during the last quarter. Finally, Caprock Group LLC boosted its position in Procore Technologies by 4.4% during the third quarter. Caprock Group LLC now owns 6,430 shares of the company’s stock worth $420,000 after acquiring an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Up 1.7 %

Shares of PCOR opened at $69.17 on Friday. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $76.86. The firm’s 50 day moving average price is $63.41 and its 200 day moving average price is $64.64. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR – Get Free Report) last announced its earnings results on Wednesday, November 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.14. Procore Technologies had a negative net margin of 25.94% and a negative return on equity of 15.88%. The firm had revenue of $247.91 million for the quarter, compared to the consensus estimate of $233.38 million. As a group, analysts predict that Procore Technologies, Inc. will post -1.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $59.40, for a total transaction of $4,039,200.00. Following the completion of the transaction, the chief executive officer now owns 541,149 shares in the company, valued at approximately $32,144,250.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $59.40, for a total transaction of $4,039,200.00. Following the completion of the transaction, the chief executive officer now owns 541,149 shares in the company, valued at approximately $32,144,250.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 29,514 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total transaction of $1,651,308.30. Following the transaction, the chief executive officer now owns 813,493 shares of the company’s stock, valued at approximately $45,514,933.35. The disclosure for this sale can be found here. Insiders have sold a total of 377,508 shares of company stock valued at $23,154,603 in the last ninety days. Company insiders own 39.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Oppenheimer lowered shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Mizuho lowered their price target on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. KeyCorp boosted their price target on shares of Procore Technologies from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. JMP Securities lowered their price target on shares of Procore Technologies from $75.00 to $69.00 and set a “market outperform” rating on the stock in a research report on Friday, November 3rd. Finally, Piper Sandler boosted their target price on shares of Procore Technologies from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.53.

View Our Latest Analysis on Procore Technologies

Procore Technologies Profile

(Free Report)

Procore Technologies, Inc provides 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 Management, 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.

Further Reading

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