Quest Partners LLC Buys 7,123 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Quest Partners LLC grew its position in Procore Technologies, Inc. (NYSE:PCOR) by 41,900.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,140 shares of the company’s stock after purchasing an additional 7,123 shares during the quarter. Quest Partners LLC’s holdings in Procore Technologies were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC grew its stake in Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after buying an additional 216 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Procore Technologies in the second quarter valued at about $51,000. Advisors Asset Management Inc. increased its stake in shares of Procore Technologies by 26.2% in the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after purchasing an additional 260 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after purchasing an additional 297 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Procore Technologies by 29.3% during the 1st quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after purchasing an additional 300 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on PCOR. TD Cowen started coverage on Procore Technologies in a report on Wednesday, June 12th. They set a “buy” rating and a $85.00 price target for the company. BMO Capital Markets reduced their price target on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Scotiabank dropped their price objective on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus cut their price objective on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, KeyCorp decreased their target price on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.31.

Procore Technologies Stock Performance

Procore Technologies stock opened at $57.12 on Friday. The firm has a market capitalization of $8.36 billion, a P/E ratio of -59.50 and a beta of 0.73. The stock has a fifty day moving average price of $61.36 and a two-hundred day moving average price of $68.23. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.55 and a quick ratio of 1.55.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.14. The firm had revenue of $284.30 million during the quarter, compared to the consensus estimate of $275.26 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm posted ($0.28) EPS. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.28 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 3,846 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $53.65, for a total transaction of $206,337.90. Following the completion of the sale, the director now directly owns 1,444,313 shares of the company’s stock, valued at approximately $77,487,392.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Procore Technologies news, Director Connor Kevin J. O sold 3,846 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total transaction of $206,337.90. Following the sale, the director now owns 1,444,313 shares of the company’s stock, valued at approximately $77,487,392.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Fu sold 1,157 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $65.00, for a total transaction of $75,205.00. Following the completion of the transaction, the chief financial officer now directly owns 182,561 shares of the company’s stock, valued at $11,866,465. The disclosure for this sale can be found here. Insiders have sold 164,586 shares of company stock valued at $10,291,025 in the last three months. 29.00% of the stock is owned by corporate insiders.

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.