Adero Partners LLC Sells 629 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Adero Partners LLC cut its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 223,425 shares of the company’s stock after selling 629 shares during the period. Procore Technologies makes up approximately 1.1% of Adero Partners LLC’s investment portfolio, making the stock its 19th largest position. Adero Partners LLC’s holdings in Procore Technologies were worth $16,741,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PCOR. Chicago Partners Investment Group LLC grew its position in shares of Procore Technologies by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after purchasing an additional 129 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Procore Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after buying an additional 143 shares during the period. Tanager Wealth Management LLP grew its position in Procore Technologies by 1.3% during the third quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock worth $787,000 after buying an additional 168 shares in the last quarter. GAMMA Investing LLC increased its stake in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Procore Technologies Price Performance

Procore Technologies stock opened at $77.46 on Thursday. The stock has a 50-day moving average price of $78.43 and a two-hundred day moving average price of $68.24. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $86.67. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Insider Activity

In other news, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the sale, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of Procore Technologies stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $190,388.48. Following the completion of the transaction, the senior vice president now directly owns 72,605 shares in the company, valued at approximately $5,181,092.80. This represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,304 shares of company stock valued at $9,026,520 over the last quarter. 29.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PCOR has been the topic of several analyst reports. Mizuho increased their target price on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Piper Sandler increased their price objective on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. BMO Capital Markets boosted their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. DA Davidson increased their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, 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 research report on Thursday, December 12th. 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 stock. According to data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus target price of $86.00.

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.