Advantage Alpha Capital Partners LP Has $7.83 Million Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Advantage Alpha Capital Partners LP lifted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 30.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,783 shares of the company’s stock after purchasing an additional 29,431 shares during the quarter. Procore Technologies comprises about 1.8% of Advantage Alpha Capital Partners LP’s investment portfolio, making the stock its 6th largest holding. Advantage Alpha Capital Partners LP’s holdings in Procore Technologies were worth $7,825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. CIBC Asset Management Inc raised its stake in shares of Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after buying an additional 143 shares in the last quarter. Tanager Wealth Management LLP raised its position in Procore Technologies by 1.2% in the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after acquiring an additional 150 shares in the last quarter. GAMMA Investing LLC raised its position in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in Procore Technologies by 0.3% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock valued at $3,570,000 after acquiring an additional 180 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling

In other news, CFO Howard Fu sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $71.75, for a total transaction of $107,625.00. Following the completion of the sale, the chief financial officer now owns 171,997 shares in the company, valued at approximately $12,340,784.75. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the completion of the transaction, the senior vice president now directly owns 75,120 shares in the company, valued at $5,314,740. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,053 shares of company stock worth $7,426,909. Insiders own 29.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PCOR. Scotiabank boosted their target price on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a report on Friday. The Goldman Sachs Group lifted their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen increased their price objective on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday. Macquarie reissued a “neutral” rating and set a $70.00 price objective on shares of Procore Technologies in a research note on Tuesday, July 30th. Finally, BMO Capital Markets boosted their target price on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

Procore Technologies Trading Up 4.6 %

Procore Technologies stock opened at $80.24 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. The company’s fifty day simple moving average is $64.64 and its 200-day simple moving average is $64.00. The stock has a market cap of $11.93 billion, a P/E ratio of -160.48 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

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.