Robeco Schweiz AG Decreases Holdings in Procore Technologies, Inc. $PCOR

Robeco Schweiz AG decreased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,166,668 shares of the company’s stock after selling 36,989 shares during the period. Procore Technologies accounts for about 1.9% of Robeco Schweiz AG’s holdings, making the stock its 13th biggest position. Robeco Schweiz AG owned about 0.78% of Procore Technologies worth $85,073,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC boosted its holdings in shares of Procore Technologies by 465.2% in the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after purchasing an additional 321 shares in the last quarter. First Horizon Corp bought a new stake in Procore Technologies in the 3rd quarter worth approximately $49,000. TD Private Client Wealth LLC boosted its stake in Procore Technologies by 2,648.3% in the third quarter. TD Private Client Wealth LLC now owns 797 shares of the company’s stock worth $58,000 after buying an additional 768 shares in the last quarter. Hilltop National Bank bought a new position in Procore Technologies during the second quarter valued at approximately $62,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Procore Technologies in the 2nd quarter worth approximately $68,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PCOR shares. Barclays raised shares of Procore Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $82.00 to $90.00 in a report on Monday, January 5th. DA Davidson raised Procore Technologies to a “hold” rating in a research note on Friday, November 7th. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. BTIG Research reaffirmed a “buy” rating and issued a $88.00 target price on shares of Procore Technologies in a research note on Wednesday, December 17th. Finally, Robert W. Baird lifted their target price on shares of Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.11.

Insiders Place Their Bets

In other news, CRO Lawrence Joseph Stack sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $75.30, for a total transaction of $753,000.00. Following the completion of the sale, the executive owned 184,128 shares of the company’s stock, valued at $13,864,838.40. This represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William J.G. Griffith sold 207,474 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $72.30, for a total transaction of $15,000,370.20. Following the completion of the transaction, the director owned 3,244,546 shares in the company, valued at $234,580,675.80. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 683,825 shares of company stock valued at $49,831,210. 21.50% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $72.02 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average price of $74.51 and a 200-day moving average price of $71.99. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92. The firm has a market capitalization of $11.20 billion, a PE ratio of -85.74 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The company had revenue of $338.85 million for the quarter, compared to the consensus estimate of $328.13 million. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share. As a group, equities research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current 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. 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.