Burney Co. Reduces Stock Holdings in Procore Technologies, Inc. $PCOR

Burney Co. lowered its stake in Procore Technologies, Inc. (NYSE:PCOR) by 37.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,302 shares of the company’s stock after selling 1,994 shares during the period. Burney Co.’s holdings in Procore Technologies were worth $226,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Procore Technologies by 277.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after purchasing an additional 385 shares during the period. SVB Wealth LLC purchased a new position in shares of Procore Technologies during the first quarter valued at about $49,000. Hilltop National Bank bought a new position in Procore Technologies in the second quarter worth about $62,000. Signaturefd LLC lifted its holdings in Procore Technologies by 53.4% in the first quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock worth $79,000 after buying an additional 419 shares during the period. Finally, AlphaQuest LLC boosted its position in Procore Technologies by 58.7% during the 1st quarter. AlphaQuest LLC now owns 1,858 shares of the company’s stock valued at $123,000 after acquiring an additional 687 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $79.14 on Friday. The business has a fifty day moving average price of $72.02 and a 200-day moving average price of $69.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $11.89 billion, a PE ratio of -94.22 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. The firm had revenue of $172.21 million for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.17%. As a group, equities analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity

In other Procore Technologies news, CFO Howard Fu sold 814 shares of the stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $72.34, for a total transaction of $58,884.76. Following the sale, the chief financial officer directly owned 187,847 shares in the company, valued at approximately $13,588,851.98. This trade represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 1,036 shares of Procore Technologies stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $75.00, for a total value of $77,700.00. Following the completion of the sale, the insider directly owned 85,330 shares of the company’s stock, valued at approximately $6,399,750. The trade was a 1.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,724 shares of company stock worth $2,122,519 over the last 90 days. 21.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citizens Jmp cut Procore Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. BMO Capital Markets boosted their target price on shares of Procore Technologies from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird increased their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, DA Davidson initiated coverage on shares of Procore Technologies in a research report on Monday, August 4th. They set a “neutral” rating and a $70.00 price target for the company. Fifteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.26.

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.