Squarepoint Ops LLC Raises Position in Procore Technologies, Inc. $PCOR

Squarepoint Ops LLC lifted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 438.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,089 shares of the company’s stock after buying an additional 24,502 shares during the quarter. Squarepoint Ops LLC’s holdings in Procore Technologies were worth $2,059,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PCOR. Wasatch Advisors LP boosted its holdings in Procore Technologies by 58.4% in the 2nd quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company’s stock worth $318,592,000 after acquiring an additional 1,717,492 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Procore Technologies by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 3,282,582 shares of the company’s stock valued at $224,594,000 after purchasing an additional 23,038 shares during the period. Champlain Investment Partners LLC grew its holdings in Procore Technologies by 73.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,259,420 shares of the company’s stock valued at $154,590,000 after purchasing an additional 955,450 shares in the last quarter. Wellington Management Group LLP increased its stake in Procore Technologies by 25.6% during the 1st quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company’s stock worth $145,954,000 after buying an additional 451,238 shares during the period. Finally, State Street Corp lifted its holdings in Procore Technologies by 3.1% in the 2nd quarter. State Street Corp now owns 1,935,851 shares of the company’s stock worth $132,451,000 after buying an additional 58,242 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PCOR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. Berenberg Bank assumed coverage on Procore Technologies in a report on Friday, October 3rd. They issued a “buy” rating and a $84.00 price target for the company. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. BTIG Research restated a “buy” rating and set a $88.00 price objective on shares of Procore Technologies in a report on Wednesday. Finally, Canaccord Genuity Group increased their target price on Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.67.

Insider Transactions at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 22,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $78.77, for a total transaction of $1,732,940.00. Following the sale, the senior vice president directly owned 63,309 shares of the company’s stock, valued at approximately $4,986,849.93. This represents a 25.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 36,196 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $78.06, for a total transaction of $2,825,459.76. Following the completion of the transaction, the director owned 1,071,749 shares in the company, valued at approximately $83,660,726.94. The trade was a 3.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 691,739 shares of company stock valued at $50,389,537 over the last quarter. Insiders own 21.50% of the company’s stock.

Procore Technologies Stock Up 1.3%

Shares of Procore Technologies stock opened at $74.38 on Friday. The business has a 50-day moving average price of $74.13 and a 200 day moving average price of $71.06. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The firm has a market cap of $11.56 billion, a P/E ratio of -88.55 and a beta of 0.90. 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 (NYSE:PCOR) last issued its earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The firm had revenue of $172.21 million during the quarter. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share 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.