Procore Technologies, Inc. $PCOR Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly reduced its stake in Procore Technologies, Inc., selling 674,164 shares and retaining only 86,080 shares, which represents an **88.7% decrease** in ownership.
• Insider transactions included Director Connor Kevin J. O selling 8,035 shares for approximately $581,413, and insider Benjamin C. Singer selling 4,500 shares for around $337,500, highlighting active insider trading as shares dropped 1.3% to $69.67.
• Research analysts maintain a generally positive outlook on Procore Technologies, with several price targets set between **$70.00 and $95.00**, suggesting a consensus target price of **$83.06**.

Acadian Asset Management LLC decreased its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 88.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,080 shares of the company's stock after selling 674,164 shares during the period. Acadian Asset Management LLC owned about 0.06% of Procore Technologies worth $5,680,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock valued at $35,000 after purchasing an additional 385 shares during the period. SVB Wealth LLC acquired a new stake in shares of Procore Technologies in the first quarter valued at about $49,000. Versant Capital Management Inc grew its position in shares of Procore Technologies by 174.2% in the first quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock valued at $66,000 after purchasing an additional 636 shares during the period. Signaturefd LLC grew its position in shares of Procore Technologies by 53.4% in the first quarter. Signaturefd LLC now owns 1,203 shares of the company's stock valued at $79,000 after purchasing an additional 419 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Procore Technologies by 66.6% in the first quarter. GAMMA Investing LLC now owns 1,243 shares of the company's stock valued at $82,000 after purchasing an additional 497 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Procore Technologies Price Performance

PCOR traded up $0.03 on Thursday, reaching $72.59. 1,531,885 shares of the company's stock were exchanged, compared to its average volume of 1,339,829. The stock has a market cap of $10.90 billion, a PE ratio of -75.61 and a beta of 0.90. Procore Technologies, Inc. has a twelve month low of $53.71 and a twelve month high of $88.92. The stock's fifty day moving average price is $69.12 and its 200-day moving average price is $67.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $323.92 million for the quarter, compared to analyst estimates of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. Procore Technologies's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. KeyCorp lifted their target price on shares of Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird lifted their target price on shares of Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Piper Sandler lifted their target price on shares of Procore Technologies from $75.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Mizuho lifted their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus lifted their target price on shares of Procore Technologies from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.06.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 4,500 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $75.00, for a total value of $337,500.00. Following the transaction, the insider directly owned 97,557 shares in the company, valued at $7,316,775. The trade was a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Howard Fu sold 814 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $74.35, for a total transaction of $60,520.90. Following the completion of the transaction, the chief financial officer owned 197,457 shares in the company, valued at $14,680,927.95. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,613 shares of company stock worth $3,083,860 in the last ninety days. 21.50% of the stock is owned by insiders.

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.