34,763 Shares in Procore Technologies, Inc. $PCOR Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 34,763 shares of the company's stock, valued at approximately $1,412,000.

Other hedge funds have also recently modified their holdings of the company. Blue Owl Capital Holdings LP acquired a new position in Procore Technologies in the 4th quarter valued at $6,857,000. Stephens Investment Management Group LLC raised its stake in Procore Technologies by 23.3% during the first quarter. Stephens Investment Management Group LLC now owns 543,159 shares of the company's stock worth $30,960,000 after purchasing an additional 102,574 shares during the period. Deutsche Bank AG acquired a new position in Procore Technologies in the second quarter valued at approximately $114,444,000. PNC Financial Services Group Inc. lifted its stake in shares of Procore Technologies by 105.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 45,802 shares of the company's stock valued at $3,332,000 after purchasing an additional 23,555 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Procore Technologies in the first quarter valued at about $3,181,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Procore Technologies Stock Down 0.1%

NYSE:PCOR opened at $57.93 on Tuesday. Procore Technologies, Inc. has a 52 week low of $38.03 and a 52 week high of $82.32. The company has a fifty day simple moving average of $52.74 and a two-hundred day simple moving average of $51.90. The company has a market cap of $8.80 billion, a price-to-earnings ratio of -222.81 and a beta of 0.74.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) 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 business had revenue of $375.21 million for the quarter, compared to analysts' expectations of $365.82 million. During the same period last year, the firm earned $0.35 earnings per share. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts expect that Procore Technologies, Inc. will post 0.41 EPS for the current year.

Insider Buying and Selling

In other Procore Technologies news, insider Benjamin Singer sold 3,943 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $63.35, for a total value of $249,789.05. Following the sale, the insider owned 86,931 shares of the company's stock, valued at $5,507,078.85. This trade represents a 4.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Procore Technologies 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 of the company's stock, valued at $52,524,295.44. The trade was a 5.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 231,892 shares of company stock worth $11,613,268 over the last ninety days. Company insiders own 16.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PCOR shares. UBS Group boosted their target price on Procore Technologies from $68.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Zacks Research upgraded Procore Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 3rd. Guggenheim assumed coverage on Procore Technologies in a research note on Thursday, July 23rd. They set a "buy" rating and a $68.00 target price on the stock. TD Cowen dropped their target price on Procore Technologies from $70.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Procore Technologies in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $70.44.

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.

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