Blair William & Co. IL Grows Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Key Points

• Blair William & Co. IL increased its holdings in Procore Technologies by 29.7% during the first quarter, now owning approximately 1,038,635 shares valued at $68.57 million.
• Several institutional investors, including Teacher Retirement System of Texas and GAMMA Investing LLC, also expanded their stakes in Procore Technologies, indicating strong institutional interest in the stock.
• Procore Technologies reported a 13.9% increase in quarterly revenue year-over-year, with earnings per share of $0.35, exceeding analysts' expectations by $0.11.

Blair William & Co. IL boosted its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 29.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,038,635 shares of the company's stock after acquiring an additional 237,851 shares during the quarter. Blair William & Co. IL owned 0.70% of Procore Technologies worth $68,571,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PCOR. Huntington National Bank lifted its position in shares of Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after purchasing an additional 404 shares during the last quarter. Aster Capital Management DIFC Ltd increased its holdings in shares of Procore Technologies by 181.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock valued at $63,000 after acquiring an additional 544 shares during the last quarter. Ancora Advisors LLC increased its holdings in shares of Procore Technologies by 10,625.0% in the 4th quarter. Ancora Advisors LLC now owns 858 shares of the company's stock valued at $64,000 after acquiring an additional 850 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Procore Technologies by 174.2% during the 1st quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock worth $66,000 after acquiring an additional 636 shares in the last quarter. Finally, GeoWealth Management LLC purchased a new stake in Procore Technologies during the fourth quarter worth approximately $78,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Robert W. Baird lifted their price target on shares of Procore Technologies from $83.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. KeyCorp boosted their target price on Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Scotiabank reduced their price objective on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. Finally, Citizens Jmp lowered shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 1st. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $83.06.

Insider Buying and Selling at Procore Technologies

In other news, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $64.76, for a total value of $12,485,922.28. Following the sale, the insider directly owned 3,137,255 shares in the company, valued at $203,168,633.80. This represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin C. Singer sold 4,500 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $75.00, for a total value of $337,500.00. Following the sale, the insider directly owned 97,557 shares in the company, valued at approximately $7,316,775. The trade was a 4.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 671,447 shares of company stock worth $43,813,243. 29.00% of the stock is currently owned by insiders.

Procore Technologies Price Performance

PCOR stock traded down $1.94 during midday trading on Friday, hitting $62.39. 1,195,007 shares of the stock were exchanged, compared to its average volume of 1,459,902. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.29. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of -65.01 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $52.60 and a fifty-two week high of $88.92. The stock's 50-day moving average price is $69.37 and its 200-day moving average price is $69.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The business had revenue of $323.92 million for the quarter, compared to analyst estimates of $311.91 million. During the same period in the previous year, the firm earned $0.39 EPS. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. Research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

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.