Universal Beteiligungs und Servicegesellschaft mbH Acquires 13,799 Shares of Procore Technologies, Inc. $PCOR

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 34.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 53,757 shares of the company’s stock after acquiring an additional 13,799 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Procore Technologies were worth $3,920,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in PCOR. Global Retirement Partners LLC boosted its position 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Procore Technologies during the third quarter worth about $34,000. First Horizon Corp acquired a new position in shares of Procore Technologies during the 3rd quarter worth about $49,000. TD Private Client Wealth LLC increased its stake in shares of Procore Technologies by 2,648.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 797 shares of the company’s stock valued at $58,000 after acquiring an additional 768 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Procore Technologies in the 2nd quarter valued at approximately $62,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insiders Place Their Bets

In other Procore Technologies news, CFO Howard Fu sold 814 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $72.99, for a total transaction of $59,413.86. Following the sale, the chief financial officer directly owned 178,237 shares of the company’s stock, valued at $13,009,518.63. The trade was a 0.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $72.70, for a total transaction of $5,452,500.00. Following the transaction, the chairman owned 1,155,480 shares of the company’s stock, valued at approximately $84,003,396. This represents a 6.10% 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 690,703 shares of company stock valued at $50,266,998 over the last 90 days. 21.50% of the stock is currently owned by company insiders.

Procore Technologies Stock Down 4.1%

PCOR stock opened at $63.12 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $9.81 billion, a P/E ratio of -75.14 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The business has a 50-day moving average of $72.58 and a 200-day moving average of $71.65.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, November 5th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.32 by $0.10. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The firm had revenue of $338.85 million for the quarter, compared to analysts’ expectations of $328.13 million. During the same quarter in the previous year, the business posted $0.24 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCOR has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson raised shares of Procore Technologies to a “hold” rating in a research report on Friday, November 7th. Robert W. Baird upped their price objective on shares of Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. BTIG Research reaffirmed a “buy” rating and set a $88.00 price objective on shares of Procore Technologies in a research note on Wednesday, December 17th. Finally, KeyCorp boosted their target price on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.11.

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.