CenterBook Partners LP Buys 14,623 Shares of Procore Technologies, Inc. $PCOR

CenterBook Partners LP raised its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 138.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,189 shares of the company's stock after buying an additional 14,623 shares during the period. CenterBook Partners LP's holdings in Procore Technologies were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in PCOR. Provenance Wealth Advisors LLC bought a new position in Procore Technologies in the third quarter worth approximately $218,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Procore Technologies in the 3rd quarter worth $235,000. Vise Technologies Inc. grew its position in shares of Procore Technologies by 33.1% during the 3rd quarter. Vise Technologies Inc. now owns 6,741 shares of the company's stock worth $349,000 after buying an additional 1,676 shares in the last quarter. Wildcat Capital Management LLC bought a new position in shares of Procore Technologies during the 3rd quarter worth $199,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Procore Technologies during the third quarter valued at $667,000. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Trading Up 1.3%

PCOR opened at $76.31 on Tuesday. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of -331.79 and a beta of 0.75. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $80.40. The stock has a fifty day moving average price of $57.78 and a 200-day moving average price of $53.56.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. Procore Technologies had a positive return on equity of 2.59% and a negative net margin of 2.31%. The company had revenue of $402.31 million for the quarter, compared to the consensus estimate of $384.38 million. During the same quarter last year, the company earned $0.42 earnings per share. The firm's revenue for the quarter was up 18.7% compared to the same quarter last year. On average, equities research analysts forecast that Procore Technologies, Inc. will post 0.43 EPS for the current year.

Insider Activity

In other news, insider Benjamin C. Singer sold 2,586 shares of Procore Technologies stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $75.00, for a total value of $193,950.00. Following the transaction, the insider owned 84,345 shares of the company's stock, valued at $6,325,875. The trade was a 2.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 business's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $54.53, for a total transaction of $419,444.76. Following the transaction, the director owned 900,594 shares of the company's stock, valued at approximately $49,109,390.82. This trade represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 146,686 shares of company stock valued at $8,231,827. Corporate insiders own 16.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BMO Capital Markets lifted their price objective on Procore Technologies from $56.00 to $67.00 and gave the company an "outperform" rating in a report on Friday, July 31st. JPMorgan Chase & Co. increased their target price on shares of Procore Technologies from $69.00 to $74.00 and gave the stock an "overweight" rating in a report on Wednesday, November 4th. Weiss Ratings raised shares of Procore Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, October 23rd. TD Cowen raised their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, November 2nd. Finally, Griffin Securities started coverage on shares of Procore Technologies in a report on Wednesday, October 28th. They issued a "buy" rating and a $82.00 price target for the company. Eighteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Procore Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $80.35.

Procore Technologies Company Profile

Procore Technologies provides cloud-based construction management software designed to help construction companies plan, manage and execute projects. Its platform connects project teams and stakeholders, including owners, general contractors, specialty contractors and design professionals.

Procore's products support project management, construction financials, workforce coordination, quality and safety processes, and project data and analytics. The platform also offers integrations with third-party applications to help customers connect construction workflows and business systems.

Founded in 2002, Procore serves customers in multiple regions, including North America, Europe and Asia-Pacific.

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