Vanguard Group Inc. Has $900.82 Million Stake in Procore Technologies, Inc. $PCOR

Vanguard Group Inc. boosted its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 6.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,353,586 shares of the company’s stock after purchasing an additional 718,663 shares during the period. Vanguard Group Inc. owned 0.08% of Procore Technologies worth $900,823,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC lifted its holdings in shares of Procore Technologies by 465.2% during the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after acquiring an additional 321 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Procore Technologies in the third quarter valued at approximately $34,000. Jones Financial Companies Lllp raised its position in Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after purchasing an additional 199 shares in the last quarter. First Horizon Corp bought a new stake in Procore Technologies during the third quarter worth $49,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at $57,000. 81.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Procore Technologies news, CFO Howard Fu sold 814 shares of Procore Technologies stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $72.99, for a total value of $59,413.86. Following the completion of the sale, the chief financial officer directly owned 178,237 shares of the company’s stock, valued at approximately $13,009,518.63. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were 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 in the company, valued at $84,003,396. This represents a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 311,391 shares of company stock worth $22,541,570 over the last ninety days. 21.50% of the stock is owned by company insiders.

Procore Technologies Trading Up 0.7%

Shares of NYSE PCOR opened at $52.37 on Monday. The firm has a 50 day moving average price of $64.75 and a two-hundred day moving average price of $69.30. The stock has a market cap of $8.14 billion, a P/E ratio of -78.16 and a beta of 0.90. Procore Technologies, Inc. has a 52-week low of $46.08 and a 52-week high of $84.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative return on equity of 4.00% and a negative net margin of 7.62%.The business had revenue of $349.11 million for the quarter, compared to analysts’ expectations of $340.80 million. During the same period in the prior year, the business posted $0.01 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. As a group, equities analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group lowered their price target on Procore Technologies from $87.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Robert W. Baird boosted their target price on Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. KeyCorp dropped their target price on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. Finally, Piper Sandler lowered their price objective on shares of Procore Technologies from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and an average target price of $76.95.

Procore Technologies 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.