Pier Capital LLC Cuts Stake in Procore Technologies, Inc. $PCOR

Pier Capital LLC reduced its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 44.2% during the 4th quarter, HoldingsChannel reports. The fund owned 70,984 shares of the company’s stock after selling 56,176 shares during the period. Pier Capital LLC’s holdings in Procore Technologies were worth $5,163,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Procore Technologies by 12.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,301,569 shares of the company’s stock worth $240,753,000 after acquiring an additional 360,207 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Procore Technologies during the 3rd quarter worth about $1,442,000. Envestnet Asset Management Inc. lifted its holdings in shares of Procore Technologies by 31.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 419,735 shares of the company’s stock worth $30,607,000 after acquiring an additional 99,706 shares during the period. Robinhood Asset Management LLC purchased a new position in shares of Procore Technologies during the 4th quarter worth about $7,136,000. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Procore Technologies by 19.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 365,149 shares of the company’s stock worth $26,627,000 after acquiring an additional 59,923 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PCOR. Stifel Nicolaus cut their price target on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. The Goldman Sachs Group cut their price target on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler cut their price target on shares of Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Citizens Jmp upgraded shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target on the stock in a report on Wednesday, April 29th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.56.

Key Stories Impacting Procore Technologies

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Q1 results showed revenue above expectations and narrower losses; the company also appointed an AI-focused board member, events investors see as improving execution and AI credibility. Why Procore Technologies (PCOR) Is Up 11.6%…
• Positive Sentiment: Markets / media are highlighting Procore as a top cloud-computing pick for 2026, which can support investor interest and multiple expansion if sentiment persists. Procore Technologies (PCOR) Is One Of The Best Cloud Computing Stocks To Buy In 2026
• Positive Sentiment: Several sell‑side firms still carry buy/overweight ratings and price targets implying 20–30%+ upside, signalling continued analyst conviction despite recent cuts (BTIG reaffirmed buy at $66). BTIG coverage
• Neutral Sentiment: In-depth coverage and analysis pieces (earnings-transcript, valuation pieces) are available for investors doing due diligence; these are informational rather than immediate catalysts. Q1 2026 earnings call transcript
• Neutral Sentiment: Market writeups questioning whether the pullback creates a buying opportunity—useful for longer‑term investors assessing risk/reward but not a direct price catalyst. Is Procore Now Attractive After Recent Share Price Pullback?
• Negative Sentiment: Multiple firms trimmed price targets recently (UBS: $74→$68; Goldman Sachs: $80→$70; Piper Sandler: $79→$71). While ratings largely remain buy/overweight, lower targets reduce upside expectations and can cap near-term gains. Procore Given New $68.00 Price Target at UBS Group Goldman Sachs PT note
• Negative Sentiment: Q1 EPS narrowly missed consensus (0.34 vs. 0.36) and the company still reports negative margins — fundamentals that could pressure the stock if margin improvement stalls. Procore Beats Q1 Sales Expectations But Stock Drops
• Neutral Sentiment: Analyst comment roundups (Globe and Mail) synthesize views but do not introduce new catalysts. Analysts Offer Insights on Technology Companies

Insider Activity

In other news, Director Connor Kevin J. O sold 5,769 shares of Procore Technologies stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $51.07, for a total transaction of $294,622.83. Following the sale, the director owned 990,983 shares in the company, valued at $50,609,501.81. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Benjamin C. Singer sold 4,225 shares of Procore Technologies stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total transaction of $211,250.00. Following the sale, the insider owned 64,660 shares in the company, valued at $3,233,000. This represents a 6.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 148,026 shares of company stock worth $7,783,734 over the last 90 days. Company insiders own 16.80% of the company’s stock.

Procore Technologies Trading Up 1.2%

PCOR opened at $53.58 on Friday. The firm has a market capitalization of $8.08 billion, a P/E ratio of -105.06 and a beta of 0.78. The firm’s 50 day moving average is $55.78 and its 200-day moving average is $64.18. Procore Technologies, Inc. has a 52-week low of $46.08 and a 52-week high of $82.32. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $352.82 million. Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.23%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. Analysts expect that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal 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.