Arlington Financial Advisors LLC Cuts Position in Procore Technologies, Inc. (NYSE:PCOR)

Arlington Financial Advisors LLC lowered its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,580 shares of the company’s stock after selling 815 shares during the quarter. Arlington Financial Advisors LLC’s holdings in Procore Technologies were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Procore Technologies by 6,823.1% in the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after buying an additional 887 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Procore Technologies in the fourth quarter valued at $62,000. TFO Wealth Partners LLC boosted its stake in Procore Technologies by 43,600.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after acquiring an additional 2,180 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Procore Technologies in the fourth quarter valued at $189,000. Finally, Wasatch Advisors LP acquired a new position in Procore Technologies in the fourth quarter valued at $218,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $81.30, for a total transaction of $5,528,400.00. Following the completion of the transaction, the chief executive officer now directly owns 531,399 shares of the company’s stock, valued at approximately $43,202,738.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $81.30, for a total transaction of $5,528,400.00. Following the sale, the chief executive officer now owns 531,399 shares in the company, valued at $43,202,738.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 22,483 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $70.17, for a total transaction of $1,577,632.11. Following the sale, the chief executive officer now owns 866,718 shares in the company, valued at approximately $60,817,602.06. The disclosure for this sale can be found here. Insiders sold a total of 311,374 shares of company stock valued at $22,280,965 in the last ninety days. Corporate insiders own 29.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PCOR shares. Macquarie started coverage on shares of Procore Technologies in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $70.00 price objective for the company. TD Cowen initiated coverage on shares of Procore Technologies in a research note on Wednesday, June 12th. They set a “buy” rating and a $85.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler decreased their target price on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Barclays decreased their target price on shares of Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $80.94.

Procore Technologies Price Performance

Procore Technologies stock traded up $1.80 during mid-day trading on Friday, reaching $66.31. The company had a trading volume of 4,180,598 shares, compared to its average volume of 1,475,775. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The company has a market capitalization of $9.70 billion, a P/E ratio of -69.07 and a beta of 0.76. The stock’s 50-day simple moving average is $67.42 and its 200-day simple moving average is $71.40.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The company had revenue of $269.43 million during the quarter, compared to analysts’ expectations of $263.13 million. On average, equities analysts predict that Procore Technologies, Inc. will post -0.35 EPS for the current 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.