Procore Technologies, Inc. $PCOR Shares Purchased by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 407,273 shares of the company’s stock after acquiring an additional 22,080 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.27% of Procore Technologies worth $23,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Owl Capital Holdings LP acquired a new stake in Procore Technologies during the fourth quarter valued at approximately $6,857,000. Robinhood Asset Management LLC bought a new stake in Procore Technologies during the fourth quarter worth approximately $7,136,000. Spyglass Capital Management LLC boosted its holdings in Procore Technologies by 5.1% during the third quarter. Spyglass Capital Management LLC now owns 943,888 shares of the company’s stock worth $68,828,000 after buying an additional 45,790 shares in the last quarter. Stephens Investment Management Group LLC grew its position in Procore Technologies by 20.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 440,585 shares of the company’s stock worth $32,048,000 after buying an additional 75,436 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Procore Technologies by 105.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 45,802 shares of the company’s stock worth $3,332,000 after buying an additional 23,555 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Price Performance

NYSE PCOR opened at $42.16 on Thursday. The stock’s 50-day moving average is $47.52 and its two-hundred day moving average is $56.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.12 and a quick ratio of 1.12. Procore Technologies, Inc. has a fifty-two week low of $38.03 and a fifty-two week high of $82.32. The firm has a market cap of $6.36 billion, a P/E ratio of -82.66 and a beta of 0.75.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $359.28 million during the quarter, compared to analyst estimates of $352.82 million. Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.24%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. On average, analysts anticipate that Procore Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PCOR shares. Zacks Research upgraded Procore Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Piper Sandler decreased their target price on Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. UBS Group cut their target price on Procore Technologies from $74.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and issued a $66.00 price target on shares of Procore Technologies in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group dropped their price target on Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

Insider Buying and Selling at Procore Technologies

In other news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $45.14, for a total value of $2,533,347.08. Following the sale, the chairman directly owned 919,704 shares of the company’s stock, valued at approximately $41,515,438.56. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 5,769 shares of Procore Technologies stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $42.00, for a total value of $242,298.00. Following the completion of the transaction, the director owned 973,670 shares in the company, valued at $40,894,140. The trade was a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 189,621 shares of company stock worth $9,054,472 over the last ninety days. Company insiders own 16.80% of the company’s stock.

Procore Technologies 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. 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.