Elevation Point Wealth Partners LLC Takes $68,000 Position in Procore Technologies, Inc. $PCOR

Elevation Point Wealth Partners LLC purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 996 shares of the company’s stock, valued at approximately $68,000.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Procore Technologies by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 3,282,582 shares of the company’s stock worth $224,594,000 after purchasing an additional 23,038 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Procore Technologies by 73.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,259,420 shares of the company’s stock worth $154,590,000 after acquiring an additional 955,450 shares in the last quarter. Wellington Management Group LLP lifted its position in Procore Technologies by 25.6% during the 1st quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company’s stock worth $145,954,000 after acquiring an additional 451,238 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Procore Technologies by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,918,606 shares of the company’s stock worth $131,292,000 after acquiring an additional 72,870 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in Procore Technologies by 7.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,879,226 shares of the company’s stock valued at $124,067,000 after acquiring an additional 126,070 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on PCOR shares. DA Davidson raised shares of Procore Technologies to a “hold” rating in a research report on Friday, November 7th. Berenberg Bank started coverage on shares of Procore Technologies in a research note on Friday, October 3rd. They set a “buy” rating and a $84.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. KeyCorp raised their target price on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Canaccord Genuity Group lifted their target price on Procore Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Thirteen 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.47.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $75.24 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92. The firm’s 50-day simple moving average is $73.49 and its 200-day simple moving average is $70.42. The firm has a market cap of $11.70 billion, a PE ratio of -89.57 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The firm had revenue of $172.21 million for the quarter. Equities analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Kathryn Bueker sold 6,500 shares of Procore Technologies stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $79.00, for a total value of $513,500.00. Following the completion of the transaction, the director directly owned 13,481 shares in the company, valued at $1,064,999. The trade was a 32.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Benjamin C. Singer sold 4,204 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $69.21, for a total value of $290,958.84. Following the transaction, the insider directly owned 75,676 shares of the company’s stock, valued at $5,237,535.96. This trade represents a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 397,342 shares of company stock valued at $29,019,501 in the last ninety days. 21.50% of the stock is owned by insiders.

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.