Citizens Financial Group Inc. RI Purchases 13,278 Shares of Procore Technologies, Inc. $PCOR

Citizens Financial Group Inc. RI increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 128.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,580 shares of the company’s stock after purchasing an additional 13,278 shares during the period. Citizens Financial Group Inc. RI’s holdings in Procore Technologies were worth $1,715,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PCOR. Global Retirement Partners LLC lifted its position in Procore Technologies by 465.2% in the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after purchasing an additional 321 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Procore Technologies during the 3rd quarter worth about $34,000. Jones Financial Companies Lllp increased 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 worth $35,000 after purchasing an additional 199 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Procore Technologies during the 4th quarter valued at about $41,000. Finally, First Horizon Corp bought a new position in Procore Technologies during the 3rd quarter valued at about $49,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCOR has been the topic of several recent analyst reports. Zacks Research raised Procore Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. Citizens Jmp upgraded shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price objective for the company in a research report on Wednesday. UBS Group reduced their price objective on Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Canaccord Genuity Group cut their target price on shares of Procore Technologies from $90.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, TD Cowen cut their price target on Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of Procore Technologies stock in a transaction on Friday, April 10th. The shares were sold at an average price of $47.64, for a total value of $2,673,652.08. Following the sale, the chairman directly owned 927,580 shares in the company, valued at approximately $44,189,911.20. The trade was a 5.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Benjamin C. Singer sold 4,225 shares of Procore Technologies stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total value of $211,250.00. Following the completion of the sale, the insider directly owned 64,660 shares in the company, valued at approximately $3,233,000. This represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 148,026 shares of company stock worth $7,783,734. Corporate insiders own 21.50% of the company’s stock.

Procore Technologies Trading Up 5.0%

NYSE:PCOR opened at $59.43 on Friday. The stock has a market capitalization of $8.96 billion, a PE ratio of -88.71 and a beta of 0.78. Procore Technologies, Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $82.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.32. The business’s 50-day simple moving average is $55.59 and its 200-day simple moving average is $64.60.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $349.11 million for the quarter, compared to analyst estimates of $340.80 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the business posted $0.01 earnings per share. Sell-side analysts expect that Procore Technologies, Inc. will post 0.09 earnings per share for the current fiscal year.

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. 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.