Cwm LLC Has $4.58 Million Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Cwm LLC decreased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 4.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,093 shares of the company’s stock after selling 3,167 shares during the quarter. Cwm LLC’s holdings in Procore Technologies were worth $4,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PCOR. Ellsworth Advisors LLC lifted its stake in Procore Technologies by 3.0% in the 4th quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock worth $408,000 after acquiring an additional 170 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Procore Technologies by 0.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 25,900 shares of the company’s stock worth $1,692,000 after acquiring an additional 200 shares in the last quarter. Portside Wealth Group LLC lifted its stake in Procore Technologies by 7.5% in the 3rd quarter. Portside Wealth Group LLC now owns 3,311 shares of the company’s stock worth $215,000 after acquiring an additional 231 shares in the last quarter. Caprock Group LLC lifted its stake in Procore Technologies by 4.4% in the 3rd quarter. Caprock Group LLC now owns 6,430 shares of the company’s stock worth $420,000 after acquiring an additional 273 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Procore Technologies by 8.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,167 shares of the company’s stock worth $272,000 after acquiring an additional 316 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. DA Davidson reissued a “buy” rating and issued a $95.00 price objective on shares of Procore Technologies in a research note on Thursday, March 14th. Piper Sandler increased their price objective on Procore Technologies from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Stifel Nicolaus increased their price objective on Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. raised their price target on Procore Technologies from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Finally, BMO Capital Markets raised their price target on Procore Technologies from $76.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.86.

Procore Technologies Trading Up 1.6 %

Shares of NYSE PCOR opened at $71.74 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The business’s 50-day simple moving average is $77.07 and its 200-day simple moving average is $68.86. Procore Technologies, Inc. has a 52 week low of $48.11 and a 52 week high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. The business had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. On average, analysts forecast that Procore Technologies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $4,821,679.40. Following the transaction, the chief executive officer now owns 748,247 shares of the company’s stock, valued at approximately $55,295,453.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $4,821,679.40. Following the sale, the chief executive officer now owns 748,247 shares of the company’s stock, valued at approximately $55,295,453.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Connor Kevin J. O sold 6,410 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $79.20, for a total value of $507,672.00. Following the completion of the sale, the director now directly owns 1,494,311 shares in the company, valued at approximately $118,349,431.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 466,231 shares of company stock valued at $36,510,114. Insiders own 39.20% of the company’s stock.

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.