Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 22.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 259,401 shares of the company's stock after selling 74,275 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.17% of Procore Technologies worth $19,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PCOR. Versant Capital Management Inc raised its stake in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after buying an additional 162 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of Procore Technologies during the 4th quarter valued at approximately $53,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Procore Technologies by 1,434.0% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock valued at $54,000 after acquiring an additional 674 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

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Procore Technologies Stock Down 8.0 %

PCOR traded down $4.95 on Friday, hitting $57.11. 2,503,925 shares of the company were exchanged, compared to its average volume of 1,714,895. The firm has a 50-day moving average price of $74.39 and a two-hundred day moving average price of $72.33. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a market cap of $8.56 billion, a price-to-earnings ratio of -79.32 and a beta of 0.90.

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 analysts' consensus estimates of $0.11 by ($0.46). The company had revenue of $302.05 million for the quarter, compared to analyst estimates 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, equities analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PCOR shares. Mizuho raised their target price on Procore Technologies from $65.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Robert W. Baird boosted their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. UBS Group increased their target price 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. Piper Sandler boosted their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, KeyCorp increased their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.65.

Insider Activity

In other news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now owns 200 shares of the company's stock, valued at approximately $17,480. This trade represents a 84.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the sale, the executive now owns 161,368 shares of the company's stock, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,604 shares of company stock worth $5,427,468. 29.00% of the stock is currently owned by corporate insiders.

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.