GC Wealth Management RIA LLC Acquires New Shares in Procore Technologies, Inc. $PCOR

Key Points

• GC Wealth Management RIA LLC acquired 7,502 shares of Procore Technologies, valued at approximately $513,000, during the 2nd quarter.
• The stock has received a mix of ratings from analysts, with thirteen analysts rating it as a Buy and six as Hold, and an average target price of $83.06.
• Procore Technologies reported earnings of $0.35 per share for the last quarter, beating estimates, with a 13.9% revenue increase year-over-year.

GC Wealth Management RIA LLC acquired a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,502 shares of the company's stock, valued at approximately $513,000.

A number of other institutional investors also recently bought and sold shares of PCOR. Northwestern Mutual Wealth Management Co. lifted its holdings in Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock valued at $35,000 after acquiring an additional 385 shares during the period. SVB Wealth LLC bought a new position in Procore Technologies in the first quarter valued at about $49,000. Versant Capital Management Inc lifted its holdings in Procore Technologies by 174.2% in the first quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock valued at $66,000 after acquiring an additional 636 shares during the period. Signaturefd LLC lifted its holdings in Procore Technologies by 53.4% in the first quarter. Signaturefd LLC now owns 1,203 shares of the company's stock valued at $79,000 after acquiring an additional 419 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Procore Technologies by 66.6% in the first quarter. GAMMA Investing LLC now owns 1,243 shares of the company's stock valued at $82,000 after acquiring an additional 497 shares during the period. Institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of recent research reports. Robert W. Baird increased their target price on Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Citizens Jmp downgraded Procore Technologies from an "outperform" rating to a "market perform" rating in a research note on Friday, August 1st. 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. Stifel Nicolaus boosted their price objective on Procore Technologies from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Arete began coverage on Procore Technologies in a research note on Monday, June 16th. They set a "buy" rating and a $91.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.06.

Procore Technologies Stock Down 2.5%

Shares of PCOR opened at $72.95 on Wednesday. The business's 50 day moving average is $69.13 and its 200 day moving average is $67.62. The company has a market capitalization of $10.96 billion, a PE ratio of -75.99 and a beta of 0.90. Procore Technologies, Inc. has a 12-month low of $53.71 and a 12-month high of $88.92. 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 (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $323.92 million for 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%.The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $72.57, for a total transaction of $558,208.44. Following the sale, the director owned 1,123,329 shares of the company's stock, valued at approximately $81,519,985.53. This trade represents a 0.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin C. Singer sold 1,036 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $75.00, for a total value of $77,700.00. Following the transaction, the insider owned 85,330 shares of the company's stock, valued at $6,399,750. This represents a 1.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,649 shares of company stock valued at $3,164,856. 21.50% of the stock is owned by company insiders.

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.

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