Blair William & Co. IL Has $40.40 Million Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Blair William & Co. IL lifted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 696.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 609,275 shares of the company’s stock after acquiring an additional 532,771 shares during the period. Blair William & Co. IL owned approximately 0.41% of Procore Technologies worth $40,401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCOR. Vanguard Group Inc. increased its position in shares of Procore Technologies by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock valued at $764,111,000 after purchasing an additional 94,190 shares during the last quarter. Cadian Capital Management LP grew its position in Procore Technologies by 22.9% during the fourth quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock valued at $257,384,000 after buying an additional 692,218 shares during the period. XN LP increased its holdings in Procore Technologies by 101.1% during the second quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after buying an additional 1,411,812 shares during the last quarter. Robeco Schweiz AG raised its position in Procore Technologies by 20.1% in the second quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock worth $87,198,000 after acquiring an additional 220,000 shares during the period. Finally, Meritage Group LP purchased a new position in Procore Technologies in the first quarter valued at about $106,738,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Activity

In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $65.59, for a total value of $4,460,120.00. Following the sale, the chief executive officer now directly owns 527,349 shares of the company’s stock, valued at $34,588,820.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of Procore Technologies stock in a transaction on Monday, July 1st. The shares were sold at an average price of $65.59, for a total value of $4,460,120.00. Following the sale, the chief executive officer now owns 527,349 shares in the company, valued at $34,588,820.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Howard Fu sold 1,157 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $65.00, for a total transaction of $75,205.00. Following the transaction, the chief financial officer now directly owns 182,561 shares in the company, valued at $11,866,465. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,586 shares of company stock valued at $10,291,025. Insiders own 29.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PCOR. JMP Securities cut their price target on Procore Technologies from $93.00 to $82.00 and set a “market outperform” rating for the company in a research note on Friday, August 2nd. Scotiabank reduced their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. DA Davidson cut shares of Procore Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $90.00 to $60.00 in a research note on Friday, August 2nd. Stifel Nicolaus reduced 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 note on Friday, August 2nd. Finally, BMO Capital Markets lowered their target price on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.31.

Procore Technologies Price Performance

PCOR opened at $56.86 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.55 and a quick ratio of 1.55. The stock’s 50 day simple moving average is $60.72 and its 200 day simple moving average is $67.62. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of -59.23 and a beta of 0.73. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.25 by $0.14. The company had revenue of $284.30 million for 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 revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.28) earnings per share. As a group, analysts predict that Procore Technologies, Inc. will post -0.28 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.