CIBC Private Wealth Group LLC Sells 74,275 Shares of Procore Technologies, Inc. (NYSE:PCOR)

CIBC Private Wealth Group LLC lessened its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,401 shares of the company’s stock after selling 74,275 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.17% of Procore Technologies worth $19,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversified Trust Co boosted its holdings in shares of Procore Technologies by 157.1% during the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock valued at $3,795,000 after buying an additional 30,948 shares in the last quarter. US Bancorp DE lifted its position in Procore Technologies by 18.8% during the 4th quarter. US Bancorp DE now owns 21,416 shares of the company’s stock valued at $1,605,000 after acquiring an additional 3,390 shares during the period. Raymond James Financial Inc. bought a new stake in Procore Technologies during the fourth quarter worth about $20,729,000. Barclays PLC grew its holdings in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock worth $4,259,000 after purchasing an additional 22,734 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Procore Technologies during the fourth quarter valued at approximately $56,000. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $66.13 on Tuesday. The stock has a market cap of $9.91 billion, a P/E ratio of -91.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The stock’s fifty day moving average is $75.55 and its 200 day moving average is $72.26. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insider Buying and Selling at Procore Technologies

In other news, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $73.62, for a total value of $377,523.36. Following the transaction, the director now directly owns 1,264,700 shares in the company, valued at $93,107,214. The trade was a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Fu sold 8,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the sale, the chief financial officer now owns 156,188 shares of the company’s stock, valued at $13,588,356. This represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,604 shares of company stock valued at $5,427,468 over the last 90 days. 29.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PCOR shares. Macquarie lowered their price target on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. UBS Group lifted their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. increased their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Canaccord Genuity Group boosted their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Barclays increased their target price on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.65.

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.