Diversify Advisory Services LLC Buys New Holdings in Procore Technologies, Inc. $PCOR

Diversify Advisory Services LLC purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCORFree Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,409 shares of the company’s stock, valued at approximately $531,000.

A number of other large investors have also bought and sold shares of PCOR. Brighton Jones LLC purchased a new stake in shares of Procore Technologies during the fourth quarter valued at approximately $511,000. Goldman Sachs Group Inc. increased its stake in shares of Procore Technologies by 5.2% in the first quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company’s stock worth $48,392,000 after buying an additional 36,426 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Procore Technologies by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company’s stock valued at $23,156,000 after buying an additional 52,507 shares during the last quarter. Prudential Financial Inc. raised its holdings in Procore Technologies by 56.8% during the 2nd quarter. Prudential Financial Inc. now owns 6,850 shares of the company’s stock valued at $471,000 after buying an additional 2,480 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Procore Technologies by 3.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company’s stock valued at $500,000 after buying an additional 269 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procore Technologies

In other Procore Technologies news, Director Elisa Steele sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $63.00, for a total transaction of $94,500.00. Following the completion of the transaction, the director owned 58,371 shares of the company’s stock, valued at approximately $3,677,373. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $57.11, for a total transaction of $3,205,127.42. Following the sale, the chairman owned 919,704 shares in the company, valued at approximately $52,524,295.44. This trade represents a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 224,199 shares of company stock valued at $11,083,445 in the last three months. Company insiders own 16.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PCOR shares. Piper Sandler cut their price target on shares of Procore Technologies from $71.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. TD Cowen dropped their target price on shares of Procore Technologies from $70.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. The Goldman Sachs Group dropped their target price on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, May 7th. BTIG Research reissued a “buy” rating and issued a $66.00 target price on shares of Procore Technologies in a research note on Friday, July 24th. Finally, Guggenheim started coverage on Procore Technologies in a research report on Thursday, July 23rd. They set a “buy” rating and a $68.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.44.

Read Our Latest Report on Procore Technologies

Procore Technologies Price Performance

Shares of PCOR opened at $63.01 on Friday. The company has a 50-day simple moving average of $47.76 and a two-hundred day simple moving average of $51.10. The firm has a market capitalization of $9.57 billion, a PE ratio of -242.35 and a beta of 0.70. Procore Technologies, Inc. has a one year low of $38.03 and a one year high of $82.32.

Procore Technologies (NYSE:PCORGet Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $375.21 million for the quarter, compared to the consensus estimate of $365.82 million. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. Analysts expect that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal year.

Procore Technologies Profile

(Free Report)

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. 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 Execution, 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

Institutional Ownership by Quarter for Procore Technologies (NYSE:PCOR)

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