Edmond DE Rothschild Holding S.A. Sells 9,366 Shares of Procore Technologies, Inc. $PCOR

Key Points

• Edmond DE Rothschild Holding S.A. reduced its stake in Procore Technologies by 8.9%, now holding 96,341 shares valued at approximately $6.36 million.
• Analysts have revised price targets for Procore Technologies, with a consensus target at $83.06, indicating a generally positive outlook among traders.
• Procore Technologies reported a 13.9% increase in quarterly revenue compared to the previous year, totaling $323.92 million, and exceeded EPS expectations.

Edmond DE Rothschild Holding S.A. lessened its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,341 shares of the company's stock after selling 9,366 shares during the period. Edmond DE Rothschild Holding S.A. owned about 0.06% of Procore Technologies worth $6,360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Two Sigma Investments LP raised its holdings in shares of Procore Technologies by 5.3% in the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company's stock worth $313,000 after acquiring an additional 210 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Procore Technologies by 1.7% in the 1st quarter. Park Avenue Securities LLC now owns 12,934 shares of the company's stock worth $854,000 after acquiring an additional 221 shares during the last quarter. Xponance Inc. raised its holdings in shares of Procore Technologies by 1.8% in the 1st quarter. Xponance Inc. now owns 14,864 shares of the company's stock worth $981,000 after acquiring an additional 263 shares during the last quarter. TFB Advisors LLC raised its holdings in shares of Procore Technologies by 8.1% in the 1st quarter. TFB Advisors LLC now owns 3,543 shares of the company's stock worth $234,000 after acquiring an additional 264 shares during the last quarter. Finally, Procyon Advisors LLC raised its holdings in shares of Procore Technologies by 8.6% in the 1st quarter. Procyon Advisors LLC now owns 3,514 shares of the company's stock worth $232,000 after acquiring an additional 278 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on PCOR. Robert W. Baird increased their price objective on shares of Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. DA Davidson began coverage on shares of Procore Technologies in a research note on Monday, August 4th. They issued a "neutral" rating and a $70.00 price objective for the company. Barclays increased their price objective on shares of Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Mizuho increased their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, 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 objective for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.06.

Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 4,205 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $63.67, for a total value of $267,732.35. Following the completion of the transaction, the insider directly owned 86,366 shares of the company's stock, valued at approximately $5,498,923.22. This trade represents a 4.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 7,692 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $66.28, for a total transaction of $509,825.76. Following the completion of the transaction, the director directly owned 1,146,405 shares of the company's stock, valued at approximately $75,983,723.40. This trade represents a 0.67% 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 quarter. Insiders own 21.50% of the company's stock.

Procore Technologies Stock Performance

Shares of PCOR stock traded down $1.15 during trading hours on Wednesday, hitting $68.89. 347,305 shares of the company were exchanged, compared to its average volume of 1,463,306. The firm has a fifty day simple moving average of $69.28 and a 200 day simple moving average of $67.75. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 52-week low of $52.78 and a 52-week high of $88.92. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of -71.84 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 (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 analyst estimates of $311.91 million. During the same quarter last year, the business posted $0.39 EPS. Procore Technologies's quarterly revenue was up 13.9% compared to the same quarter last year. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.