XTX Topco Ltd Takes Position in Procore Technologies, Inc. (NYSE:PCOR)

XTX Topco Ltd purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,740 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Procore Technologies by 1.0% in 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 increased its stake in shares of Procore Technologies by 22.9% in the 4th quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock valued at $257,384,000 after purchasing an additional 692,218 shares during the last quarter. XN LP increased its stake in shares of Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after purchasing an additional 1,411,812 shares during the last quarter. Robeco Schweiz AG increased its stake in shares of Procore Technologies by 20.1% in the 2nd quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock valued at $87,198,000 after purchasing an additional 220,000 shares during the last quarter. Finally, Meritage Group LP bought a new position in shares of Procore Technologies in the 1st quarter valued at $106,738,000. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Up 0.7 %

Shares of NYSE:PCOR opened at $62.05 on Friday. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of -64.63 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. The business’s 50-day moving average is $59.62 and its 200-day moving average is $66.75. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 4.13% and a negative net margin of 8.54%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) EPS. Equities research analysts predict that Procore Technologies, Inc. will post -0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of research reports. Scotiabank reduced their price objective on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen initiated coverage on Procore Technologies in a research report on Wednesday, June 12th. They set a “buy” rating and a $85.00 price objective on the stock. Macquarie restated a “neutral” rating and set a $70.00 price objective on shares of Procore Technologies in a research report on Tuesday, July 30th. Robert W. Baird initiated coverage on Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price objective on the stock. Finally, DA Davidson lowered Procore Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $60.00 in a research report on Friday, August 2nd. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.50.

Insider Activity

In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’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 transaction, the chief executive officer now directly owns 527,349 shares of the company’s stock, valued at approximately $34,588,820.91. The sale was disclosed in a document filed 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 the company’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 transaction of $4,460,120.00. Following the transaction, the chief executive officer now directly owns 527,349 shares of the company’s stock, valued at approximately $34,588,820.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total value of $160,091.98. Following the transaction, the senior vice president now directly owns 79,156 shares in the company, valued at $4,681,285.84. The disclosure for this sale can be found here. Insiders have sold 169,890 shares of company stock valued at $10,540,071 in the last ninety days. 29.00% of the stock is owned by company 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.