Oppenheimer Asset Management Inc. Takes $3.07 Million Position in Procore Technologies, Inc. $PCOR

Oppenheimer Asset Management Inc. bought a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 75,534 shares of the company’s stock, valued at approximately $3,068,000.

Several other large investors have also modified their holdings of PCOR. SJS Investment Consulting Inc. raised its stake in Procore Technologies by 7,100.0% during the first quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock valued at $25,000 after buying an additional 426 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Procore Technologies during the 3rd quarter worth approximately $34,000. Allworth Financial LP grew its position in shares of Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after acquiring an additional 204 shares in the last quarter. Employees Retirement System of Texas acquired a new position in shares of Procore Technologies in the 4th quarter worth approximately $54,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Procore Technologies by 116.2% in the 4th quarter. Global Retirement Partners LLC now owns 843 shares of the company’s stock valued at $61,000 after acquiring an additional 453 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PCOR shares. UBS Group upped their price target on Procore Technologies from $68.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Procore Technologies in a report on Monday, July 6th. BTIG Research reiterated a “buy” rating and set a $66.00 target price on shares of Procore Technologies in a research note on Friday, July 24th. Citizens Jmp raised shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price on the stock in a report on Wednesday, April 29th. Finally, Jefferies Financial Group reduced their price target on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.44.

Procore Technologies Trading Down 4.1%

Shares of NYSE:PCOR opened at $59.65 on Friday. The firm’s 50 day moving average is $46.45 and its two-hundred day moving average is $51.16. The firm has a market capitalization of $9.06 billion, a P/E ratio of -229.40 and a beta of 0.70. Procore Technologies, Inc. has a 52 week low of $38.03 and a 52 week high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The business had revenue of $375.21 million during the quarter, compared to the consensus estimate of $365.82 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. Analysts predict that Procore Technologies, Inc. will post 0.09 EPS for the current year.

Insiders Place Their Bets

In other news, insider Benjamin C. Singer sold 3,942 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $50.00, for a total transaction of $197,100.00. Following the transaction, the insider directly owned 96,723 shares of the company’s stock, valued at approximately $4,836,150. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $54.98, for a total transaction of $422,906.16. Following the sale, the director owned 939,054 shares in the company, valued at approximately $51,629,188.92. This represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 222,699 shares of company stock worth $10,988,945 over the last 90 days. Insiders own 16.80% of the company’s stock.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.