Procore Technologies, Inc. $PCOR Stock Sold by Robeco Schweiz AG

Robeco Schweiz AG decreased its position in Procore Technologies, Inc. (NYSE:PCOR) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,165,061 shares of the company’s stock after selling 14,140 shares during the period. Robeco Schweiz AG owned about 0.77% of Procore Technologies worth $60,257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PCOR. Deutsche Bank AG purchased a new position in shares of Procore Technologies during the 2nd quarter valued at $114,444,000. Stephens Investment Management Group LLC grew its stake in shares of Procore Technologies by 23.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 543,159 shares of the company’s stock worth $30,960,000 after acquiring an additional 102,574 shares during the period. Bank of America Corp DE bought a new position in shares of Procore Technologies during the 2nd quarter worth $34,651,000. Hillsdale Investment Management Inc. bought a new position in shares of Procore Technologies during the 1st quarter worth $3,181,000. Finally, Whetstone Capital Advisors LLC purchased a new stake in Procore Technologies in the 2nd quarter worth about $1,990,000. 81.10% of the stock is owned by institutional investors.

Procore Technologies Price Performance

NYSE:PCOR opened at $63.05 on Friday. Procore Technologies, Inc. has a 1 year low of $38.03 and a 1 year high of $82.32. The stock’s fifty day moving average price is $56.56 and its two-hundred day moving average price is $51.48. The company has a market cap of $9.58 billion, a P/E ratio of -242.48 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%. The company had revenue of $375.21 million during the quarter, compared to analysts’ expectations of $365.82 million. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, analysts expect that Procore Technologies, Inc. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Zacks Research cut Procore Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Jefferies Financial Group dropped their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. BTIG Research reiterated a “buy” rating and set a $66.00 target price on shares of Procore Technologies in a research report on Friday, July 24th. DA Davidson set a $56.00 target price on shares of Procore Technologies in a research note on Monday, September 28th. Finally, Weiss Ratings upgraded shares of Procore Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.75.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin Singer sold 3,943 shares of Procore Technologies stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $63.35, for a total transaction of $249,789.05. Following the completion of the transaction, the insider owned 86,931 shares of the company’s stock, valued at $5,507,078.85. The trade was a 4.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Craig Courtemanche, Jr. sold 56,122 shares of the company’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $56.19, for a total value of $3,153,495.18. Following the sale, the chairman owned 908,316 shares in the company, valued at approximately $51,038,276.04. This represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 222,271 shares of company stock worth $12,450,532 over the last quarter. Insiders own 16.80% of the company’s stock.

Procore Technologies Profile

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company’s technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore’s products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.