Procore Technologies, Inc. $PCOR Shares Bought by Circle Wealth Management LLC

Key Points

• Circle Wealth Management LLC increased its stake in Procore Technologies by 85.8% in Q1, now holding 12,656 shares valued at $836,000.
• Multiple hedge funds have recently made significant adjustments, with 81.10% of Procore's stock currently owned by institutional investors.
• Analysts have set new price targets, with the consensus rating for Procore Technologies being a "Moderate Buy" and an average price target of $83.06.

Circle Wealth Management LLC boosted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 85.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,656 shares of the company's stock after buying an additional 5,846 shares during the quarter. Circle Wealth Management LLC's holdings in Procore Technologies were worth $836,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas raised its holdings in Procore Technologies by 89.5% in the first quarter. Teacher Retirement System of Texas now owns 19,957 shares of the company's stock worth $1,318,000 after purchasing an additional 9,428 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Procore Technologies by 66.6% during the 1st quarter. GAMMA Investing LLC now owns 1,243 shares of the company's stock worth $82,000 after acquiring an additional 497 shares in the last quarter. Brown Advisory Inc. lifted its position in Procore Technologies by 87.4% during the first quarter. Brown Advisory Inc. now owns 12,943 shares of the company's stock valued at $854,000 after acquiring an additional 6,038 shares during the last quarter. Amalgamated Bank boosted its stake in Procore Technologies by 4.2% in the first quarter. Amalgamated Bank now owns 7,374 shares of the company's stock valued at $487,000 after acquiring an additional 295 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Procore Technologies by 8.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,702 shares of the company's stock worth $508,000 after purchasing an additional 613 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Procore Technologies 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 owned 3,137,255 shares of the company's stock, valued at approximately $203,168,633.80. This represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 4,500 shares of the company's stock in a transaction that occurred 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 completion of 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. Insiders sold a total of 664,449 shares of company stock worth $43,235,011 in the last ninety days. Insiders own 21.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. DA Davidson assumed coverage on Procore Technologies in a research note on Monday, August 4th. They issued a "neutral" rating and a $70.00 price objective for the company. Stifel Nicolaus boosted their price target on shares of Procore Technologies from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, August 1st. KeyCorp boosted their target price on shares of Procore Technologies from $77.00 to $81.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Arete began coverage on shares of Procore Technologies in a research note on Monday, June 16th. They issued a "buy" rating and a $91.00 price target on the stock. Finally, JMP Securities reiterated a "market perform" rating and set a $95.00 price objective on shares of Procore Technologies in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Procore Technologies presently has an average rating of "Moderate Buy" and an average price target of $83.06.

Procore Technologies Stock Up 2.9%

Procore Technologies stock traded up $1.93 during mid-day trading on Wednesday, reaching $67.30. 331,156 shares of the company's stock were exchanged, compared to its average volume of 1,470,259. The company has a fifty day moving average of $68.93 and a 200-day moving average of $68.60. 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 twelve month low of $52.78 and a twelve month high of $88.92. The company has a market cap of $10.11 billion, a P/E ratio of -70.10 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $323.92 million during the quarter, compared to analysts' expectations of $311.91 million. During the same quarter in the previous year, the business posted $0.39 EPS. The firm's revenue was up 13.9% on a year-over-year basis. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

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.