Ieq Capital LLC Has $15.44 Million Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Ieq Capital LLC boosted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 0.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 232,795 shares of the company’s stock after purchasing an additional 269 shares during the quarter. Ieq Capital LLC’s holdings in Procore Technologies were worth $15,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCOR. Tanager Wealth Management LLP increased its position in shares of Procore Technologies by 1.2% in the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after acquiring an additional 150 shares in the last quarter. Taylor Frigon Capital Management LLC grew its position in Procore Technologies by 0.3% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after purchasing an additional 180 shares in the last quarter. Signaturefd LLC raised its stake in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares during the period. Advisors Asset Management Inc. lifted its holdings 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 valued at $103,000 after purchasing an additional 260 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Trading Up 5.6 %

Procore Technologies stock opened at $60.02 on Friday. Procore Technologies, Inc. has a one year low of $48.11 and a one year high of $83.35. The company’s fifty day moving average price is $60.72 and its two-hundred day moving average price is $67.62. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of -62.52 and a beta of 0.73. 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 issued its quarterly earnings data on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The business had revenue of $284.30 million for the quarter, compared to analyst estimates of $275.26 million. During the same quarter in the prior year, the firm posted ($0.28) EPS. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, analysts forecast that Procore Technologies, Inc. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the subject of several research analyst reports. Macquarie reissued a “neutral” rating and issued a $70.00 price objective on shares of Procore Technologies in a research note on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price target on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Piper Sandler lowered their price objective on shares of Procore Technologies from $74.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. KeyCorp cut their target price on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Scotiabank decreased 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. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.31.

Insider Buying and Selling

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 transaction, the chief executive officer now owns 527,349 shares in the company, valued at approximately $34,588,820.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction that occurred on 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 owns 527,349 shares of the company’s stock, valued at approximately $34,588,820.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin C. Singer sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $66.13, for a total value of $132,260.00. Following the transaction, the insider now owns 108,705 shares of the company’s stock, valued at $7,188,661.65. The disclosure for this sale can be found here. In the last three months, insiders sold 178,688 shares of company stock valued at $11,111,941. Company insiders own 29.00% of the company’s stock.

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.