Ellsworth Advisors LLC Raises Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Ellsworth Advisors LLC raised its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,355 shares of the company’s stock after acquiring an additional 794 shares during the quarter. Ellsworth Advisors LLC’s holdings in Procore Technologies were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of PCOR. Envestnet Asset Management Inc. boosted its stake in shares of Procore Technologies by 5.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 214,492 shares of the company’s stock worth $14,223,000 after acquiring an additional 11,384 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Procore Technologies by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 412,326 shares of the company’s stock valued at $27,334,000 after purchasing an additional 30,534 shares during the period. Amalgamated Bank raised its position in shares of Procore Technologies by 30.4% during the 2nd quarter. Amalgamated Bank now owns 7,114 shares of the company’s stock valued at $472,000 after purchasing an additional 1,659 shares during the period. Hsbc Holdings PLC raised its position in shares of Procore Technologies by 916.7% during the 2nd quarter. Hsbc Holdings PLC now owns 62,332 shares of the company’s stock valued at $4,086,000 after purchasing an additional 56,201 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Procore Technologies during the 2nd quarter valued at $248,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, insider Steven Scott Davis sold 9,671 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $65.00, for a total value of $628,615.00. Following the completion of the sale, the insider now directly owns 192,137 shares of the company’s stock, valued at $12,488,905. The trade was a 4.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 33,332 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the completion of the sale, the director now owns 1,282,648 shares of the company’s stock, valued at approximately $105,087,350.64. This represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,103 shares of company stock valued at $11,029,458 in the last three months. Company insiders own 29.00% of the company’s stock.

Procore Technologies Price Performance

PCOR stock opened at $77.03 on Tuesday. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $86.67. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $77.23 and a 200 day moving average price of $67.26. The stock has a market cap of $11.45 billion, a PE ratio of -154.06 and a beta of 0.83.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PCOR. BMO Capital Markets raised their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. DA Davidson raised their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. TD Cowen raised their price objective on shares of Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Mizuho lifted their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, Baird R W upgraded shares of Procore Technologies to a “strong-buy” rating in a report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.00.

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.