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

Cwm LLC cut its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,093 shares of the company’s stock after selling 3,167 shares during the period. Cwm LLC’s holdings in Procore Technologies were worth $4,575,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. IFP Advisors Inc lifted its position in shares of Procore Technologies by 2,600.0% in the third quarter. IFP Advisors Inc now owns 378 shares of the company’s stock valued at $25,000 after buying an additional 364 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Procore Technologies in the third quarter valued at approximately $36,000. International Assets Investment Management LLC lifted its position in shares of 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. Conestoga Capital Advisors LLC acquired a new stake in shares of Procore Technologies in the third quarter valued at approximately $202,000. Finally, Portside Wealth Group LLC lifted its position in shares of Procore Technologies by 7.5% in the third quarter. Portside Wealth Group LLC now owns 3,311 shares of the company’s stock valued at $215,000 after buying an additional 231 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Procore Technologies

In related news, CEO Craig F. Jr. Courtemanche sold 110,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $80.00, for a total transaction of $8,800,000.00. Following the sale, the chief executive officer now owns 532,749 shares of the company’s stock, valued at approximately $42,619,920. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Craig F. Jr. Courtemanche sold 110,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $80.00, for a total value of $8,800,000.00. Following the transaction, the chief executive officer now directly owns 532,749 shares of the company’s stock, valued at approximately $42,619,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Fu sold 1,457 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.19, for a total value of $118,293.83. Following the completion of the sale, the chief financial officer now directly owns 137,237 shares of the company’s stock, valued at $11,142,272.03. The disclosure for this sale can be found here. Insiders have sold a total of 466,231 shares of company stock valued at $36,510,114 in the last 90 days. 39.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PCOR has been the subject of several research reports. Piper Sandler lifted their price target on Procore Technologies from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. JPMorgan Chase & Co. raised their price objective on Procore Technologies from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. JMP Securities raised their price objective on Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research note on Friday, February 16th. DA Davidson restated a “buy” rating and set a $95.00 price objective on shares of Procore Technologies in a research note on Thursday, March 14th. Finally, Stifel Nicolaus raised 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. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.86.

Procore Technologies Trading Up 1.6 %

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

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

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.