ANTIPODES PARTNERS Ltd Makes New Investment in Procore Technologies, Inc. (NYSE:PCOR)

ANTIPODES PARTNERS Ltd purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 98,934 shares of the company's stock, valued at approximately $6,532,000. ANTIPODES PARTNERS Ltd owned approximately 0.07% of Procore Technologies as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Covestor Ltd boosted its stake in Procore Technologies by 15.1% in the 4th quarter. Covestor Ltd now owns 1,571 shares of the company's stock valued at $118,000 after purchasing an additional 206 shares during the period. Two Sigma Investments LP boosted its stake in Procore Technologies by 5.3% in the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company's stock valued at $313,000 after purchasing an additional 210 shares during the period. Park Avenue Securities LLC boosted its stake in Procore Technologies by 1.7% in the 1st quarter. Park Avenue Securities LLC now owns 12,934 shares of the company's stock valued at $854,000 after purchasing an additional 221 shares during the period. OneDigital Investment Advisors LLC boosted its stake in Procore Technologies by 4.3% in the 4th quarter. OneDigital Investment Advisors LLC now owns 5,438 shares of the company's stock valued at $407,000 after purchasing an additional 225 shares during the period. Finally, Xponance Inc. boosted its stake in Procore Technologies by 1.8% in the 1st quarter. Xponance Inc. now owns 14,864 shares of the company's stock valued at $981,000 after purchasing an additional 263 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Insider Transactions at Procore Technologies

In related news, CFO Howard Fu sold 814 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $74.35, for a total transaction of $60,520.90. Following the sale, the chief financial officer owned 197,457 shares in the company, valued at $14,680,927.95. This represents a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 8,035 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $72.36, for a total value of $581,412.60. Following the sale, the director owned 1,154,097 shares in the company, valued at approximately $83,510,458.92. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 672,447 shares of company stock worth $43,878,843. 29.00% of the stock is currently owned by insiders.

Procore Technologies Price Performance

PCOR traded up $1.29 on Friday, reaching $75.60. The stock had a trading volume of 1,060,782 shares, compared to its average volume of 1,239,095. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The firm has a 50-day moving average of $69.26 and a 200-day moving average of $70.37. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of -87.91 and a beta of 0.89.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative return on equity of 6.54% and a negative net margin of 10.73%. The business had revenue of $310.63 million during the quarter, compared to analysts' expectations of $302.66 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

PCOR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Mizuho cut their target price on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. UBS Group cut their target price on Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. KeyCorp cut their target price on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Piper Sandler cut their target price on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.39.

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.