Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC grew its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,795 shares of the company’s stock after purchasing an additional 269 shares during the period. Ieq Capital LLC owned approximately 0.16% of Procore Technologies worth $15,437,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PCOR. Private Advisor Group LLC increased its holdings in shares of Procore Technologies by 14.7% in the 4th quarter. Private Advisor Group LLC now owns 5,015 shares of the company’s stock valued at $347,000 after purchasing an additional 641 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Procore Technologies by 13.1% during the 4th quarter. Teacher Retirement System of Texas now owns 10,795 shares of the company’s stock valued at $747,000 after acquiring an additional 1,254 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Procore Technologies by 16.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 326,124 shares of the company’s stock valued at $22,577,000 after acquiring an additional 46,646 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Procore Technologies during the 4th quarter worth approximately $242,000. Finally, Norges Bank acquired a new stake in shares of Procore Technologies in the 4th quarter worth approximately $68,005,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCOR has been the topic of several research reports. DA Davidson lowered Procore Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $60.00 in a report on Friday, August 2nd. Macquarie restated a “neutral” rating and set a $70.00 target price on shares of Procore Technologies in a report on Tuesday, July 30th. JPMorgan Chase & Co. lowered their price target on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. BMO Capital Markets cut their price objective on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Mizuho reiterated a “neutral” rating and set a $70.00 target price (down previously from $75.00) on shares of Procore Technologies in a report on Tuesday, June 4th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and an average price target of $69.31.

Insiders Place Their Bets

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 2,707 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $160,091.98. Following the sale, the senior vice president now directly owns 79,156 shares of the company’s stock, valued at $4,681,285.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the completion of the transaction, the senior vice president now directly owns 79,156 shares of the company’s stock, valued at $4,681,285.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin C. Singer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the insider now owns 106,705 shares in the company, valued at $7,469,350. The disclosure for this sale can be found here. Insiders sold a total of 178,688 shares of company stock valued at $11,111,941 over the last 90 days. 29.00% of the stock is owned by company insiders.

Procore Technologies Stock Performance

Procore Technologies stock opened at $60.02 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.55 and a quick ratio of 1.55. The firm’s fifty day moving average price is $60.72 and its 200 day moving average price is $67.62. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of -62.52 and a beta of 0.73. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.25 by $0.14. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The business had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $275.26 million. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. The company’s revenue was up 24.4% compared to the same quarter last year. On average, research analysts forecast that Procore Technologies, Inc. will post -0.28 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.