ANTIPODES PARTNERS Ltd Purchases 653,174 Shares of Procore Technologies, Inc. $PCOR

ANTIPODES PARTNERS Ltd boosted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 330.3% during the 3rd quarter, Holdings Channel reports. The firm owned 850,955 shares of the company’s stock after buying an additional 653,174 shares during the period. ANTIPODES PARTNERS Ltd’s holdings in Procore Technologies were worth $62,056,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its position in shares of Procore Technologies by 465.2% during the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after buying an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Procore Technologies during the third quarter valued at $34,000. Jones Financial Companies Lllp increased its holdings in Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 199 shares during the last quarter. First Horizon Corp purchased a new stake in Procore Technologies in the 3rd quarter worth $49,000. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Procore Technologies during the 3rd quarter valued at about $57,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procore Technologies

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $72.70, for a total value of $5,452,500.00. Following the transaction, the chairman owned 1,155,480 shares of the company’s stock, valued at $84,003,396. This represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Howard Fu sold 814 shares of Procore Technologies stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.99, for a total value of $59,413.86. Following the sale, the chief financial officer owned 178,237 shares of the company’s stock, valued at approximately $13,009,518.63. This trade represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 311,391 shares of company stock valued at $22,541,570. Company insiders own 21.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research downgraded Procore Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday. BMO Capital Markets reduced their price objective on Procore Technologies from $87.00 to $67.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Wall Street Zen downgraded Procore Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Robert W. Baird raised their target price on shares of Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Stifel Nicolaus reduced their price target on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.95.

Procore Technologies Price Performance

Procore Technologies stock opened at $52.37 on Friday. Procore Technologies, Inc. has a 12-month low of $46.08 and a 12-month high of $84.77. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $64.75 and a 200-day moving average price of $69.22. The firm has a market capitalization of $8.14 billion, a PE ratio of -78.16 and a beta of 0.89.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $349.11 million for the quarter, compared to the consensus estimate of $340.80 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 4.00%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. As a group, equities research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

About Procore Technologies

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.