Ellsworth Advisors LLC Acquires 631 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Ellsworth Advisors LLC lifted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 9.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,561 shares of the company’s stock after buying an additional 631 shares during the quarter. Ellsworth Advisors LLC’s holdings in Procore Technologies were worth $467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Creative Planning acquired a new position in shares of Procore Technologies during the third quarter worth approximately $234,000. CHICAGO TRUST Co NA raised its position in Procore Technologies by 18.7% in the 3rd quarter. CHICAGO TRUST Co NA now owns 5,592 shares of the company’s stock worth $345,000 after purchasing an additional 880 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 buying an additional 175 shares in the last quarter. Sycomore Asset Management increased its stake in shares of Procore Technologies by 61.1% in the 2nd quarter. Sycomore Asset Management now owns 174,723 shares of the company’s stock valued at $11,016,000 after buying an additional 66,248 shares during the period. Finally, Ariadne Wealth Management LP bought a new stake in shares of Procore Technologies during the second quarter worth $501,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Macquarie reiterated a “neutral” rating and issued a $70.00 price target on shares of Procore Technologies in a report on Tuesday, July 30th. DA Davidson reiterated a “neutral” rating and set a $60.00 price target on shares of Procore Technologies in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Piper Sandler lowered their target price on shares of Procore Technologies from $74.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, KeyCorp cut their price target on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.13.

Procore Technologies Price Performance

Shares of PCOR opened at $63.48 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $9.37 billion, a PE ratio of -100.76 and a beta of 0.73. The stock has a 50 day simple moving average of $58.99 and a 200 day simple moving average of $64.81. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.14. The company had revenue of $284.30 million during the quarter, compared to the consensus estimate of $275.26 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.28) earnings per share. Sell-side analysts predict that Procore Technologies, Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the completion of the transaction, the senior vice president now directly owns 79,156 shares of the company’s stock, valued at $4,681,285.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $160,091.98. Following the sale, the senior vice president now owns 79,156 shares of the company’s stock, valued at $4,681,285.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $69.48, for a total transaction of $356,293.44. Following the completion of the transaction, the director now directly owns 1,448,159 shares of the company’s stock, valued at approximately $100,618,087.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,890 shares of company stock valued at $5,807,691 in the last 90 days. 29.00% of the stock is currently owned by company insiders.

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.