SG Americas Securities LLC Trims Stock Holdings in Procore Technologies, Inc. $PCOR

SG Americas Securities LLC decreased its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 71.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,196 shares of the company’s stock after selling 10,718 shares during the quarter. SG Americas Securities LLC’s holdings in Procore Technologies were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. US Bancorp DE lifted its holdings in Procore Technologies by 5.5% during the 2nd quarter. US Bancorp DE now owns 21,638 shares of the company’s stock worth $1,480,000 after purchasing an additional 1,131 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Procore Technologies by 15.4% during the first quarter. Fred Alger Management LLC now owns 38,349 shares of the company’s stock valued at $2,532,000 after buying an additional 5,129 shares during the period. Intellectus Partners LLC lifted its holdings in shares of Procore Technologies by 135.3% in the second quarter. Intellectus Partners LLC now owns 12,305 shares of the company’s stock worth $842,000 after buying an additional 7,075 shares in the last quarter. GC Wealth Management RIA LLC bought a new position in shares of Procore Technologies in the second quarter valued at approximately $513,000. Finally, Brighton Jones LLC purchased a new position in Procore Technologies during the fourth quarter valued at approximately $511,000. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

PCOR has been the topic of several recent analyst reports. Berenberg Bank started coverage on shares of Procore Technologies in a research note on Friday, October 3rd. They issued a “buy” rating and a $84.00 target price on the stock. Robert W. Baird increased their price objective on Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen raised Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.47.

Insider Buying and Selling at Procore Technologies

In related news, Director Kathryn Bueker sold 6,500 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $79.00, for a total transaction of $513,500.00. Following the completion of the sale, the director directly owned 13,481 shares in the company, valued at $1,064,999. This represents a 32.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Craig F. Jr. Courtemanche sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $71.91, for a total value of $21,573,000.00. Following the transaction, the chairman owned 677,796 shares in the company, valued at approximately $48,740,310.36. The trade was a 30.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 397,342 shares of company stock valued at $29,019,501. 21.50% of the stock is currently owned by insiders.

Procore Technologies Stock Performance

Shares of NYSE PCOR opened at $74.06 on Friday. The stock’s 50-day moving average is $73.39 and its 200 day moving average is $70.41. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of -88.17 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02.

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

Procore Technologies Company 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.