Blair William & Co. IL Has $89.37 Million Stake in Procore Technologies, Inc. $PCOR

Blair William & Co. IL grew its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,225,529 shares of the company’s stock after purchasing an additional 123,106 shares during the quarter. Blair William & Co. IL’s holdings in Procore Technologies were worth $89,366,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Procore Technologies by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 12,353,586 shares of the company’s stock worth $900,823,000 after purchasing an additional 718,663 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Procore Technologies by 58.4% in the second quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company’s stock valued at $318,592,000 after buying an additional 1,717,492 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Procore Technologies by 76.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock worth $294,449,000 after acquiring an additional 1,750,998 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Procore Technologies by 12.2% in the third 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. Finally, JPMorgan Chase & Co. boosted its holdings in Procore Technologies by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 3,282,582 shares of the company’s stock valued at $224,594,000 after acquiring an additional 23,038 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Connor Kevin J. O sold 9,615 shares of Procore Technologies stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $54.48, for a total transaction of $523,825.20. Following the completion of the transaction, the director directly owned 1,012,136 shares in the company, valued at $55,141,169.28. This trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J.G. Griffith sold 207,474 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $72.30, for a total transaction of $15,000,370.20. Following the sale, the director directly owned 3,244,546 shares of the company’s stock, valued at approximately $234,580,675.80. The trade was a 6.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 314,098 shares of company stock worth $22,229,482 over the last quarter. Corporate insiders own 21.50% of the company’s stock.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $58.97 on Friday. The firm has a market capitalization of $8.85 billion, a P/E ratio of -88.01 and a beta of 0.90. The firm’s 50-day moving average price is $60.99 and its 200-day moving average price is $68.60. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 1-year low of $46.08 and a 1-year high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its 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. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The company had revenue of $349.11 million during the quarter, compared to the consensus estimate of $340.80 million. During the same period last year, the business posted $0.01 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PCOR shares. The Goldman Sachs Group lowered their price target on shares of Procore Technologies from $90.00 to $75.00 and set a “buy” rating for the company in a report on Monday, February 9th. BTIG Research cut their price target on shares of Procore Technologies from $88.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. KeyCorp decreased their price target on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Wall Street Zen downgraded Procore Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Barclays cut their target price on Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $76.95.

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. 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.