Cerity Partners LLC Sells 8,259 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Cerity Partners LLC trimmed its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 15.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,250 shares of the company's stock after selling 8,259 shares during the quarter. Cerity Partners LLC's holdings in Procore Technologies were worth $3,391,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after acquiring an additional 147 shares during the period. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after acquiring an additional 162 shares in the last quarter. Huntington National Bank lifted its stake in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after buying an additional 404 shares during the period. Finally, Hilltop National Bank acquired a new position in shares of Procore Technologies during the 4th quarter valued at $53,000. Institutional investors own 81.10% of the company's stock.

Insider Transactions at Procore Technologies

In other news, CFO Howard Fu sold 1,190 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.00, for a total value of $79,730.00. Following the sale, the chief financial officer now directly owns 146,160 shares of the company's stock, valued at approximately $9,792,720. This represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the transaction, the insider now directly owns 200 shares of the company's stock, valued at approximately $17,480. This represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,982 shares of company stock worth $5,069,759 over the last quarter. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

Procore Technologies stock traded down $1.50 during mid-day trading on Friday, reaching $58.37. 1,030,883 shares of the company's stock were exchanged, compared to its average volume of 1,731,829. The firm has a market capitalization of $8.75 billion, a PE ratio of -81.06 and a beta of 0.90. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The business's fifty day simple moving average is $69.99 and its 200 day simple moving average is $72.12.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced 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%. On average, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

PCOR has been the subject of several research analyst reports. UBS Group lifted their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, February 14th. JMP Securities upped their price target on Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Canaccord Genuity Group lifted their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group lowered their price objective on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Procore Technologies has a consensus rating of "Moderate Buy" and an average price target of $86.88.

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.