Venturi Wealth Management LLC Sells 254 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Venturi Wealth Management LLC trimmed its position in Procore Technologies, Inc. (NYSE:PCOR) by 11.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,001 shares of the company’s stock after selling 254 shares during the period. Venturi Wealth Management LLC’s holdings in Procore Technologies were worth $150,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning purchased a new stake in shares of Procore Technologies during the 3rd quarter worth approximately $234,000. Raymond James & Associates increased its stake in shares of Procore Technologies by 3.0% during the 3rd quarter. Raymond James & Associates now owns 47,982 shares of the company’s stock worth $2,961,000 after purchasing an additional 1,386 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after purchasing an additional 789 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Procore Technologies by 120.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,279 shares of the company’s stock worth $511,000 after purchasing an additional 4,531 shares during the last quarter. Finally, Vanderbilt University purchased a new stake in shares of Procore Technologies during the 3rd quarter worth approximately $2,924,000. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $100.00 in a report on Monday, January 6th. JMP Securities raised their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 18th. Robert W. Baird raised their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, TD Cowen raised their price objective on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.94.

Insider Activity

In related news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares in the company, valued at $17,480. This trade represents a 84.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Connor Kevin J. O sold 33,332 shares of Procore Technologies stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the completion of the transaction, the director now owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. The trade was a 2.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,811 shares of company stock worth $8,227,968. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Stock Down 0.9 %

Shares of NYSE:PCOR opened at $82.28 on Friday. The firm has a fifty day moving average price of $78.09 and a two-hundred day moving average price of $69.49. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The company has a market cap of $12.23 billion, a price-to-earnings ratio of -114.27 and a beta of 0.84.

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