Procore Technologies, Inc. $PCOR Shares Sold by Aperture Investors LLC

Key Points

• Aperture Investors LLC reduced its stake in Procore Technologies by 4.7%, now holding approximately 217,614 shares worth $14.37 million, making it the fund's 20th largest holding.
• Several institutional investors have also adjusted their positions, including B. Metzler seel. Sohn & Co. AG, which increased its stake by 47.5%.
• Equities analysts have mixed opinions on the stock, with a consensus target price of $83.06 and various ratings ranging from "Strong Buy" to "Neutral."

Aperture Investors LLC trimmed its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,614 shares of the company's stock after selling 10,627 shares during the quarter. Procore Technologies comprises 1.8% of Aperture Investors LLC's holdings, making the stock its 20th largest position. Aperture Investors LLC owned approximately 0.15% of Procore Technologies worth $14,367,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PCOR. Brighton Jones LLC acquired a new position in Procore Technologies in the fourth quarter valued at approximately $511,000. First Trust Advisors LP lifted its holdings in Procore Technologies by 682.3% in the fourth quarter. First Trust Advisors LP now owns 68,289 shares of the company's stock valued at $5,117,000 after acquiring an additional 59,560 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Procore Technologies by 20.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 729,268 shares of the company's stock valued at $54,647,000 after buying an additional 124,449 shares in the last quarter. MML Investors Services LLC increased its position in shares of Procore Technologies by 187.1% in the fourth quarter. MML Investors Services LLC now owns 18,488 shares of the company's stock valued at $1,385,000 after buying an additional 12,048 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Procore Technologies in the fourth quarter valued at approximately $221,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Stock Performance

NYSE:PCOR traded down $1.78 during mid-day trading on Tuesday, reaching $67.73. 1,696,475 shares of the stock were exchanged, compared to its average volume of 1,472,113. The company has a 50 day simple moving average of $69.16 and a 200-day simple moving average of $68.30. The stock has a market capitalization of $10.17 billion, a P/E ratio of -70.55 and a beta of 0.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 1 year low of $52.78 and a 1 year high of $88.92.

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

Analyst Upgrades and Downgrades

PCOR has been the subject of several research reports. Barclays boosted their price target on Procore Technologies from $72.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Arete initiated coverage on Procore Technologies in a research note on Monday, June 16th. They issued a "buy" rating and a $91.00 price target on the stock. Piper Sandler upped their price target on Procore Technologies from $75.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. DA Davidson initiated coverage on Procore Technologies in a research note on Monday, August 4th. They set a "neutral" rating and a $70.00 target price on the stock. Finally, Mizuho lifted their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Procore Technologies has a consensus rating of "Moderate Buy" and an average target price of $83.06.

Insider Buying and Selling

In other news, Director Connor Kevin J. O sold 8,035 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $72.36, for a total value of $581,412.60. Following the completion of the sale, the director directly owned 1,154,097 shares of the company's stock, valued at $83,510,458.92. This trade represents a 0.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Lawrence Joseph Stack sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $65.33, for a total value of $163,325.00. Following the completion of the sale, the executive directly owned 208,288 shares of the company's stock, valued at $13,607,455.04. This represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 664,449 shares of company stock worth $43,235,011. 21.50% of the stock is currently 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.