Diversify Advisory Services LLC Buys Shares of 7,061 Procore Technologies, Inc. (NYSE:PCOR)

Diversify Advisory Services LLC acquired a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,061 shares of the company’s stock, valued at approximately $567,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norden Group LLC purchased a new stake in Procore Technologies during the first quarter worth approximately $1,269,000. Allspring Global Investments Holdings LLC lifted its position in Procore Technologies by 85.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 766,291 shares of the company’s stock worth $62,966,000 after buying an additional 353,794 shares during the period. Sycomore Asset Management raised its holdings in shares of Procore Technologies by 22.0% in the 1st quarter. Sycomore Asset Management now owns 108,475 shares of the company’s stock worth $8,550,000 after purchasing an additional 19,564 shares during the period. Robeco Schweiz AG lifted its holdings in Procore Technologies by 24.4% in the 1st quarter. Robeco Schweiz AG now owns 1,095,000 shares of the company’s stock worth $89,976,000 after buying an additional 215,000 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Procore Technologies by 3.8% during the first quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock valued at $589,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Stock Up 0.1 %

NYSE PCOR traded up $0.04 during midday trading on Friday, hitting $68.86. 1,016,261 shares of the company traded hands, compared to its average volume of 1,506,031. The company’s 50-day simple moving average is $67.16 and its 200-day simple moving average is $71.45. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. Procore Technologies, Inc. has a 52 week low of $48.11 and a 52 week high of $83.35. The company has a market cap of $10.08 billion, a PE ratio of -71.74 and a beta of 0.75.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.15. The company had revenue of $269.43 million for the quarter, compared to the consensus estimate of $263.13 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. As a group, equities research analysts forecast that Procore Technologies, Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Howard Fu sold 1,441 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total transaction of $102,339.82. Following the completion of the transaction, the chief financial officer now directly owns 192,178 shares in the company, valued at approximately $13,648,481.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Procore Technologies news, CFO Howard Fu sold 1,441 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $71.02, for a total value of $102,339.82. Following the transaction, the chief financial officer now directly owns 192,178 shares in the company, valued at $13,648,481.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William Fred Fleming, Jr. sold 3,188 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total value of $223,701.96. Following the completion of the sale, the senior vice president now directly owns 87,248 shares of the company’s stock, valued at $6,122,192.16. The disclosure for this sale can be found here. Insiders have sold 297,554 shares of company stock valued at $20,096,420 in the last ninety days. 29.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. DA Davidson reiterated a “buy” rating and set a $95.00 price target on shares of Procore Technologies in a research report on Thursday, March 14th. Macquarie initiated coverage on Procore Technologies in a report on Wednesday, June 5th. They issued a “neutral” rating and a $70.00 target price on the stock. Mizuho restated a “neutral” rating and set a $70.00 target price (down previously from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th. JPMorgan Chase & Co. lifted their price objective on Procore Technologies from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Procore Technologies in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $81.19.

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.