Palidye Holdings Caymans Ltd Takes Position in Procore Technologies, Inc. $PCOR

Palidye Holdings Caymans Ltd acquired a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 30,705 shares of the company’s stock, valued at approximately $1,247,000. Procore Technologies makes up 0.2% of Palidye Holdings Caymans Ltd’s investment portfolio, making the stock its 11th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its stake in shares of Procore Technologies by 7,100.0% in the first quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock worth $25,000 after acquiring an additional 426 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Procore Technologies in the third quarter valued at $34,000. Allworth Financial LP raised its stake in shares of Procore Technologies by 48.2% in the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after acquiring an additional 204 shares in the last quarter. Employees Retirement System of Texas purchased a new position in Procore Technologies in the fourth quarter valued at $54,000. Finally, Global Retirement Partners LLC boosted its holdings in Procore Technologies by 116.2% in the fourth quarter. Global Retirement Partners LLC now owns 843 shares of the company’s stock valued at $61,000 after purchasing an additional 453 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citizens Jmp raised Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price for the company in a research note on Wednesday, April 29th. UBS Group increased their price target on Procore Technologies from $68.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Guggenheim started coverage on Procore Technologies in a research note on Thursday, July 23rd. They issued a “buy” rating and a $68.00 price objective for the company. BTIG Research reissued a “buy” rating and set a $66.00 price objective on shares of Procore Technologies in a research report on Friday, July 24th. Finally, Citigroup restated a “market outperform” rating on shares of Procore Technologies in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.44.

Insiders Place Their Bets

In other news, SVP William Fred Fleming, Jr. sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $58.95, for a total transaction of $589,500.00. Following the completion of the transaction, the senior vice president directly owned 104,981 shares of the company’s stock, valued at approximately $6,188,629.95. This represents a 8.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $57.11, for a total value of $3,205,127.42. Following the completion of the transaction, the chairman owned 919,704 shares in the company, valued at approximately $52,524,295.44. The trade was a 5.75% decrease in their position. 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 224,199 shares of company stock valued at $11,083,445 over the last quarter. Corporate insiders own 16.80% of the company’s stock.

Procore Technologies Trading Down 0.3%

Procore Technologies stock opened at $63.30 on Monday. The stock has a market cap of $9.62 billion, a P/E ratio of -243.46 and a beta of 0.70. The company has a fifty day simple moving average of $48.18 and a 200-day simple moving average of $51.15. Procore Technologies, Inc. has a 12-month low of $38.03 and a 12-month high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $375.21 million during the quarter, compared to the consensus estimate of $365.82 million. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post 0.09 earnings per share for the current fiscal year.

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.