Coldstream Capital Management Inc. Invests $235,000 in Procore Technologies, Inc. (NYSE:PCOR)

Coldstream Capital Management Inc. acquired a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,764 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds have also recently modified their holdings of the company. Dragoneer Investment Group LLC boosted its holdings in Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Procore Technologies by 27,239.5% in the third quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after acquiring an additional 1,575,534 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Procore Technologies in the third quarter worth approximately $88,572,000. XN LP increased its stake in Procore Technologies by 101.1% during the second quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after acquiring an additional 1,411,812 shares during the last quarter. Finally, PointState Capital LP purchased a new stake in Procore Technologies in the third quarter valued at $81,306,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

PCOR has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price objective on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. DA Davidson increased their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler lifted their target price on shares of Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, BMO Capital Markets raised their price target on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and an average target price of $83.71.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total transaction of $318,294.96. Following the sale, the director now owns 1,355,720 shares of the company’s stock, valued at approximately $84,149,540.40. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn Bueker sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $78.01, for a total transaction of $507,065.00. Following the sale, the director now owns 23,932 shares of the company’s stock, valued at $1,866,935.32. This represents a 21.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,321 shares of company stock valued at $10,664,711 in the last ninety days. Insiders own 29.00% of the company’s stock.

Procore Technologies Stock Down 1.4 %

Shares of Procore Technologies stock opened at $77.70 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $86.67. The company has a market capitalization of $11.55 billion, a P/E ratio of -155.40 and a beta of 0.82. The company has a 50 day moving average of $71.18 and a 200 day moving average of $65.33.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, research analysts forecast that Procore Technologies, Inc. will post -0.23 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.