B. Metzler seel. Sohn & Co. AG Invests $1.05 Million in Procore Technologies, Inc. $PCOR

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,879 shares of the company's stock, valued at approximately $1,051,000.

Other large investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. raised its stake in shares of Procore Technologies by 7,100.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company's stock valued at $25,000 after buying an additional 426 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Procore Technologies in the third quarter worth approximately $34,000. Allworth Financial LP boosted its stake in shares of Procore Technologies by 48.2% in the fourth quarter. Allworth Financial LP now owns 627 shares of the company's stock worth $46,000 after acquiring an additional 204 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Procore Technologies during the second quarter worth approximately $52,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of Procore Technologies during the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Price Performance

NYSE:PCOR opened at $63.30 on Monday. The firm has a market capitalization of $9.62 billion, a PE ratio of -243.46 and a beta of 0.70. The business's fifty day moving average price is $48.18 and its 200 day moving average price is $51.15. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $82.32.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $365.82 million. During the same period in the prior year, the firm posted $0.35 EPS. The business's quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Procore Technologies, Inc. will post 0.09 EPS for the current year.

Analysts Set New Price Targets

PCOR has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their price target on shares of Procore Technologies from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Citigroup reiterated a "market outperform" rating on shares of Procore Technologies in a research report on Tuesday, July 21st. UBS Group boosted their price objective on Procore Technologies from $68.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. BTIG Research restated a "buy" rating and issued a $66.00 target price on shares of Procore Technologies in a report on Friday, July 24th. Finally, Piper Sandler reduced their target price on shares of Procore Technologies from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.44.

Insider Transactions at Procore Technologies

In related news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $57.11, for a total transaction of $3,205,127.42. Following the completion of the sale, the chairman owned 919,704 shares in the company, valued at $52,524,295.44. This represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 7,692 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $54.98, for a total transaction of $422,906.16. Following the transaction, the director directly owned 939,054 shares in the company, valued at $51,629,188.92. The trade was a 0.81% decrease in their ownership of the stock. 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 a total of 224,199 shares of company stock worth $11,083,445 over the last three months. 16.80% of the stock is currently owned by company insiders.

Procore Technologies Company 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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