1620 Investment Advisors Inc. Purchases New Holdings in Procore Technologies, Inc. (NYSE:PCOR)

1620 Investment Advisors Inc. acquired a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,148 shares of the company’s stock, valued at approximately $71,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at approximately $26,000. Signaturefd LLC grew its position in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Procore Technologies during the second quarter valued at $51,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Trading Down 1.4 %

PCOR opened at $62.58 on Thursday. The company has a fifty day moving average price of $59.86 and a two-hundred day moving average price of $63.93. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35. The company has a market cap of $9.24 billion, a P/E ratio of -99.33 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 issued its earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The business had revenue of $284.30 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.28) EPS. Analysts predict that Procore Technologies, Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, 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 transaction of $160,091.98. Following the transaction, the senior vice president now directly owns 79,156 shares of the company’s stock, valued at $4,681,285.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of the 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 sale, the senior vice president now directly owns 79,156 shares of the company’s stock, valued at $4,681,285.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $62.88, for a total value of $322,448.64. Following the transaction, the director now directly owns 1,345,464 shares in the company, valued at approximately $84,602,776.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,748 shares of company stock valued at $5,661,056. Company insiders own 29.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PCOR. Piper Sandler decreased their price objective on Procore Technologies from $74.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. BMO Capital Markets decreased their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price objective on Procore Technologies from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday. Barclays upped their target price on Procore Technologies from $54.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, DA Davidson restated a “neutral” rating and set a $60.00 price target on shares of Procore Technologies in a report on Wednesday, October 2nd. Six 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.81.

Procore Technologies Company 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.