Procore Technologies, Inc. $PCOR Stock Sold by Robeco Schweiz AG

Robeco Schweiz AG lessened its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 1.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,165,061 shares of the company’s stock after selling 14,140 shares during the period. Robeco Schweiz AG’s holdings in Procore Technologies were worth $60,257,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Procore Technologies during the second quarter worth about $300,345,000. Assenagon Asset Management S.A. increased its stake in Procore Technologies by 0.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,430,657 shares of the company’s stock worth $229,154,000 after acquiring an additional 32,494 shares during the last quarter. Wellington Management Group LLP increased its stake in Procore Technologies by 8.2% in the 2nd quarter. Wellington Management Group LLP now owns 3,450,671 shares of the company’s stock worth $140,166,000 after acquiring an additional 260,314 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Procore Technologies by 158.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,020,531 shares of the company’s stock valued at $115,170,000 after acquiring an additional 1,240,247 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Procore Technologies in the 2nd quarter valued at about $114,444,000. Institutional investors own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In other news, insider Benjamin Singer sold 3,943 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $63.35, for a total value of $249,789.05. Following the completion of the transaction, the insider directly owned 86,931 shares in the company, valued at approximately $5,507,078.85. This represents a 4.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William Fred Fleming, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $58.95, for a total value of $589,500.00. Following the transaction, the senior vice president owned 104,981 shares in the company, valued at $6,188,629.95. This trade represents a 8.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 222,271 shares of company stock worth $12,450,532. Company insiders own 16.80% of the company’s stock.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $63.05 on Friday. The firm has a market capitalization of $9.58 billion, a PE ratio of -242.48 and a beta of 0.78. Procore Technologies, Inc. has a 52-week low of $38.03 and a 52-week high of $82.32. The firm has a fifty day moving average of $56.56 and a 200 day moving average of $51.48.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%. The business had revenue of $375.21 million for the quarter, compared to the consensus estimate of $365.82 million. During the same quarter last year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, sell-side analysts forecast that Procore Technologies, Inc. will post 0.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on PCOR shares. Piper Sandler started coverage on Procore Technologies in a research report on Monday, September 28th. They set an “overweight” rating and a $68.00 price target for the company. UBS Group upped their price objective on shares of Procore Technologies from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. BMO Capital Markets upped their price objective on shares of Procore Technologies from $56.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Barclays raised their target price on shares of Procore Technologies from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Finally, BTIG Research reiterated a “buy” rating and set a $66.00 target price on shares of Procore Technologies in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.75.

About Procore Technologies

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company’s technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore’s products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.