Harbor Capital Advisors Inc. Has $4.76 Million Holdings in Procore Technologies, Inc. $PCOR

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Procore Technologies by 19.9%, now owning 69,630 shares valued at approximately $4.76 million after selling 17,316 shares in the second quarter.
• Notable insider transactions include Benjamin C. Singer selling 4,500 shares at $75 each and Connor Kevin J. O selling 8,035 shares at $72.36 each, reflecting decreases in their respective ownerships.
• Procore Technologies beat earnings estimates with a reported EPS of $0.35, exceeding expectations of $0.24, and achieved a revenue of $323.92 million for the quarter, a 13.9% year-over-year increase.

Harbor Capital Advisors Inc. trimmed its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 19.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,630 shares of the company's stock after selling 17,316 shares during the period. Harbor Capital Advisors Inc.'s holdings in Procore Technologies were worth $4,764,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its position in shares of Procore Technologies by 89.5% during 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 during the period. GAMMA Investing LLC grew its position 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 purchasing an additional 497 shares in the last quarter. Brown Advisory Inc. raised its stake in Procore Technologies by 87.4% in the 1st quarter. Brown Advisory Inc. now owns 12,943 shares of the company's stock worth $854,000 after purchasing an additional 6,038 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Procore Technologies by 4.2% during the 1st quarter. Amalgamated Bank now owns 7,374 shares of the company's stock valued at $487,000 after purchasing an additional 295 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Procore Technologies by 8.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,702 shares of the company's stock worth $508,000 after acquiring an additional 613 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

PCOR has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Procore Technologies from $83.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Barclays upped their target price on Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Piper Sandler increased their price target on Procore Technologies from $75.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Mizuho lifted their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, DA Davidson started coverage on shares of Procore Technologies in a research note on Monday, August 4th. They set a "neutral" rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.06.

Procore Technologies Trading Down 1.9%

NYSE PCOR traded down $1.35 during trading hours on Friday, hitting $71.33. 2,290,976 shares of the company were exchanged, compared to its average volume of 1,342,401. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.71 billion, a PE ratio of -74.30 and a beta of 0.90. The stock has a 50-day moving average price of $69.11 and a 200 day moving average price of $67.42. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last released 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 firm 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 revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In related news, Director Connor Kevin J. O sold 7,692 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $72.57, for a total transaction of $558,208.44. Following the transaction, the director owned 1,123,329 shares of the company's stock, valued at approximately $81,519,985.53. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Benjamin C. Singer sold 4,205 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $63.67, for a total transaction of $267,732.35. Following the completion of the sale, the insider directly owned 86,366 shares of the company's stock, valued at $5,498,923.22. The trade was a 4.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,817 shares of company stock valued at $3,030,624 over the last quarter. Corporate insiders own 21.50% of the company's stock.

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.