Procore Technologies, Inc. $PCOR Shares Sold by Champlain Investment Partners LLC

Key Points

• Champlain Investment Partners LLC has reduced its stake in Procore Technologies by 7.6%, now holding 1,303,970 shares valued at approximately $86 million.
• Institutional investors own 81.10% of Procore Technologies, with notable increases in holdings by JPMorgan Chase (84.5% increase) and Wellington Management (25.6% increase) during the first quarter.
• Wall Street analysts have mixed ratings for Procore Technologies, with an average price target of $83.06 and a consensus rating of "Moderate Buy."

Champlain Investment Partners LLC decreased its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,303,970 shares of the company's stock after selling 107,310 shares during the quarter. Champlain Investment Partners LLC owned 0.87% of Procore Technologies worth $86,088,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Procore Technologies by 84.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company's stock worth $215,195,000 after acquiring an additional 1,492,869 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Procore Technologies by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company's stock worth $182,365,000 after acquiring an additional 82,311 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Procore Technologies by 14.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock worth $196,873,000 after acquiring an additional 322,367 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Procore Technologies by 25.6% during the 1st quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company's stock worth $145,954,000 after acquiring an additional 451,238 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Procore Technologies by 7.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,879,226 shares of the company's stock worth $124,067,000 after acquiring an additional 126,070 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Price Performance

PCOR stock traded down $0.33 on Monday, reaching $69.55. The company had a trading volume of 1,087,881 shares, compared to its average volume of 2,105,757. Procore Technologies, Inc. has a 1 year low of $52.78 and a 1 year high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. The company's fifty day moving average is $69.09 and its 200 day moving average is $68.43. The company has a market cap of $10.45 billion, a P/E ratio of -72.45 and a beta of 0.90.

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

Wall Street Analysts Forecast Growth

PCOR has been the topic of several research analyst reports. JMP Securities reissued a "market perform" rating and set a $95.00 price target on shares of Procore Technologies in a research note on Friday, August 1st. Stifel Nicolaus boosted their price target on Procore Technologies from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Mizuho upped their target price on Procore Technologies from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. BMO Capital Markets upped their target price on Procore Technologies from $75.00 to $82.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, KeyCorp upped their target price on Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" 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 assigned a Hold rating to the company's stock. According to MarketBeat, Procore Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $83.06.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 8,035 shares of the business's stock in a transaction 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 transaction, the director directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $64.76, for a total value of $12,485,922.28. Following the completion of the transaction, the insider owned 3,137,255 shares of the company's stock, valued at $203,168,633.80. This trade represents a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 664,449 shares of company stock worth $43,235,011 in the last three months. 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.