Jackson Creek Investment Advisors LLC Takes $228,000 Position in Procore Technologies, Inc. (NYSE:PCOR)

Jackson Creek Investment Advisors LLC purchased a new position in Procore Technologies, Inc. (NYSE:PCOR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,435 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings 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 worth $764,111,000 after purchasing an additional 94,190 shares in the last quarter. Cadian Capital Management LP raised its position in Procore Technologies by 22.9% in the 4th quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock worth $257,384,000 after buying an additional 692,218 shares during the last quarter. Meritage Group LP purchased a new position in Procore Technologies in the 1st quarter worth about $106,738,000. William Blair Investment Management LLC bought a new position in Procore Technologies during the 1st quarter valued at about $91,158,000. Finally, Robeco Schweiz AG boosted its holdings in shares of Procore Technologies by 24.4% during the 1st quarter. Robeco Schweiz AG now owns 1,095,000 shares of the company’s stock valued at $89,976,000 after acquiring an additional 215,000 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,142 shares of Procore Technologies stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $68.68, for a total value of $78,432.56. Following the sale, the chief financial officer now directly owns 181,419 shares in the company, valued at approximately $12,459,856.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Howard Fu sold 1,142 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $68.68, for a total transaction of $78,432.56. Following the completion of the transaction, the chief financial officer now directly owns 181,419 shares of the company’s stock, valued at $12,459,856.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Craig F. Jr. Courtemanche sold 22,993 shares of Procore Technologies 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 $1,359,806.02. Following the completion of the sale, the chief executive officer now directly owns 793,123 shares in the company, valued at approximately $46,905,294.22. The disclosure for this sale can be found here. Insiders sold a total of 173,675 shares of company stock valued at $10,893,468 in the last three months. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Trading Down 1.3 %

Shares of Procore Technologies stock opened at $55.86 on Thursday. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $8.25 billion, a P/E ratio of -58.19 and a beta of 0.73. The company has a fifty day moving average of $62.83 and a 200 day moving average of $69.01.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14. The business 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 business’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.28) earnings per share. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCOR has been the subject of several research reports. TD Cowen began coverage on shares of Procore Technologies in a report on Wednesday, June 12th. They set a “buy” rating and a $85.00 price objective for the company. Macquarie reissued a “neutral” rating and set a $70.00 price target on shares of Procore Technologies in a report on Tuesday, July 30th. Barclays lowered Procore Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $78.00 to $54.00 in a report on Friday, August 2nd. 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 research report on Friday, August 2nd. Finally, BMO Capital Markets dropped their price objective 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $69.31.

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.