Blair William & Co. IL Purchases 123,106 Shares of Procore Technologies, Inc. $PCOR

Blair William & Co. IL increased its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,225,529 shares of the company’s stock after acquiring an additional 123,106 shares during the period. Blair William & Co. IL owned about 0.79% of Procore Technologies worth $89,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its position in Procore Technologies by 465.2% in the 3rd 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 bought a new stake in Procore Technologies during the 3rd quarter worth about $34,000. Jones Financial Companies Lllp lifted its position in Procore Technologies by 70.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after purchasing an additional 199 shares during the period. First Horizon Corp bought a new position in shares of Procore Technologies in the 3rd quarter valued at about $49,000. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Procore Technologies in the 3rd quarter valued at about $57,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group decreased their price objective on Procore Technologies from $87.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. BMO Capital Markets reduced their price target on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Wall Street Zen lowered Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. DA Davidson reduced their target price on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Finally, TD Cowen increased their price target on Procore Technologies from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $76.95.

Procore Technologies Trading Down 0.5%

Shares of Procore Technologies stock opened at $58.97 on Friday. The business has a fifty day simple moving average of $60.99 and a two-hundred day simple moving average of $68.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of -88.01 and a beta of 0.90. Procore Technologies, Inc. has a 1 year low of $46.08 and a 1 year high of $82.32.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The business had revenue of $349.11 million during the quarter, compared to the consensus estimate of $340.80 million. During the same quarter in the previous year, the firm posted $0.01 EPS. Procore Technologies’s revenue was up 15.6% compared to the same quarter last year. Research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 9,615 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $54.48, for a total transaction of $523,825.20. Following the sale, the director owned 1,012,136 shares of the company’s stock, valued at $55,141,169.28. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William J.G. Griffith sold 207,474 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $72.30, for a total value of $15,000,370.20. Following the completion of the transaction, the director directly owned 3,244,546 shares of the company’s stock, valued at approximately $234,580,675.80. This trade represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 314,098 shares of company stock valued at $22,229,482. 21.50% of the stock is currently owned by insiders.

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.