Procore Technologies, Inc. (NYSE:PCOR) Stake Raised by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 30.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,687 shares of the company’s stock after acquiring an additional 33,452 shares during the quarter. Rhumbline Advisers owned about 0.10% of Procore Technologies worth $9,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PCOR. Signaturefd LLC raised its holdings in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the period. Rothschild Investment LLC acquired a new stake in Procore Technologies during the 2nd quarter worth about $51,000. Advisors Asset Management Inc. raised its holdings in Procore Technologies by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after buying an additional 260 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in 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 buying an additional 297 shares during the period. Finally, Covestor Ltd raised its holdings in Procore Technologies by 29.3% during the 1st quarter. Covestor Ltd now owns 1,324 shares of the company’s stock worth $109,000 after buying an additional 300 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Barclays lowered shares of Procore Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $78.00 to $54.00 in a research report on Friday, August 2nd. Scotiabank reduced their price target on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. KeyCorp reduced their price target 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, 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. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.31.

Procore Technologies Trading Up 3.6 %

NYSE:PCOR opened at $57.12 on Friday. The stock’s 50 day moving average price is $61.36 and its 200 day moving average price is $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 market capitalization of $8.36 billion, a P/E ratio of -59.50 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate 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 company had revenue of $284.30 million for the quarter, compared to the consensus estimate of $275.26 million. During the same quarter last year, the company posted ($0.28) earnings per share. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, research analysts forecast that Procore Technologies, Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, insider Steven Scott Davis sold 7,641 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $65.00, for a total transaction of $496,665.00. Following the transaction, the insider now owns 209,837 shares in the company, valued at $13,639,405. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Connor Kevin J. O sold 3,846 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total value of $206,337.90. Following the sale, the director now owns 1,444,313 shares in the company, valued at $77,487,392.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven Scott Davis sold 7,641 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $65.00, for a total transaction of $496,665.00. Following the completion of the sale, the insider now owns 209,837 shares in the company, valued at approximately $13,639,405. The disclosure for this sale can be found here. Insiders have sold a total of 164,586 shares of company stock worth $10,291,025 over the last 90 days. Insiders own 29.00% of the company’s stock.

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.