Oppenheimer Asset Management Inc. Buys 14,093 Shares of Procore Technologies, Inc. $PCOR

Oppenheimer Asset Management Inc. grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,448 shares of the company’s stock after buying an additional 14,093 shares during the period. Oppenheimer Asset Management Inc. owned 0.07% of Procore Technologies worth $8,200,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in Procore Technologies by 99.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,601 shares of the company’s stock worth $195,000 after acquiring an additional 1,297 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in shares of Procore Technologies by 38.1% in the third quarter. HighPoint Advisor Group LLC now owns 4,090 shares of the company’s stock worth $298,000 after purchasing an additional 1,129 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Procore Technologies by 31.2% in the third quarter. Envestnet Asset Management Inc. now owns 419,735 shares of the company’s stock worth $30,607,000 after purchasing an additional 99,706 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Procore Technologies in the third quarter worth $57,000. Finally, Jones Financial Companies Lllp raised its position in shares of Procore Technologies by 70.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after purchasing an additional 199 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 9,615 shares of Procore Technologies stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $76.37, for a total value of $734,297.55. Following the sale, the director owned 1,062,134 shares of the company’s stock, valued at $81,115,173.58. The trade was a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Lawrence Joseph Stack sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $75.30, for a total value of $753,000.00. Following the sale, the executive directly owned 184,128 shares in the company, valued at $13,864,838.40. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 626,007 shares of company stock worth $45,195,098 over the last three months. 21.50% of the stock is owned by company insiders.

Procore Technologies Trading Up 4.1%

Shares of Procore Technologies stock opened at $52.58 on Wednesday. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of -62.59 and a beta of 0.89. The business has a 50-day moving average price of $68.81 and a 200-day moving average price of $70.29. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a twelve month low of $49.40 and a twelve month high of $88.92.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Procore Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. DA Davidson upgraded Procore Technologies to a “hold” rating in a research report on Friday, November 7th. UBS Group dropped their price objective on Procore Technologies from $87.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research report on Thursday, January 22nd. Finally, Piper Sandler boosted their price target on Procore Technologies from $82.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus price target of $82.15.

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.