Highline Wealth Partners LLC Has $239,000 Stake in Procore Technologies, Inc. $PCOR

Key Points

• Highline Wealth Partners LLC increased its stake in Procore Technologies by an impressive 6,880.0% during Q2, acquiring a total of 3,490 shares valued at $239,000.
• Procore Technologies reported better-than-expected quarterly earnings, with earnings per share of $0.35, surpassing analyst expectations of $0.24, and revenue growth of 13.9% year-over-year.
• Analysts are optimistic about Procore Technologies, with a consensus price target of $83.06 and ratings of "Buy" from thirteen analysts, indicating strong potential for the stock.

Highline Wealth Partners LLC boosted its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 6,880.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,490 shares of the company's stock after acquiring an additional 3,440 shares during the quarter. Highline Wealth Partners LLC's holdings in Procore Technologies were worth $239,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PCOR. Teacher Retirement System of Texas grew its holdings in 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 lifted its position in shares of 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 buying an additional 497 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Procore Technologies by 87.4% during the 1st quarter. Brown Advisory Inc. now owns 12,943 shares of the company's stock worth $854,000 after acquiring an additional 6,038 shares during the period. Amalgamated Bank increased 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 worth $487,000 after acquiring an additional 295 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Procore Technologies by 8.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,702 shares of the company's stock valued at $508,000 after acquiring an additional 613 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $73.54 on Friday. Procore Technologies, Inc. has a 12-month low of $53.71 and a 12-month high of $88.92. The company's 50 day moving average price is $69.13 and its two-hundred day moving average price is $67.52. The firm has a market cap of $11.04 billion, a PE ratio of -76.60 and a beta of 0.90. 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 (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, beating the consensus estimate of $0.24 by $0.11. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The business had revenue of $323.92 million during the quarter, compared to analysts' expectations of $311.91 million. During the same period in the previous year, the company posted $0.39 earnings per share. The firm's revenue for the quarter 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. Equities research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PCOR shares. BMO Capital Markets upped their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Citizens Jmp lowered shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a research note on Friday, August 1st. Barclays increased their price target on shares of Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. JMP Securities restated a "market perform" rating and set a $95.00 price objective on shares of Procore Technologies in a report on Friday, August 1st. Finally, Arete initiated coverage on Procore Technologies in a research note on Monday, June 16th. They set a "buy" rating and a $91.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $83.06.

Insider Transactions at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 796 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $71.02, for a total transaction of $56,531.92. Following the sale, the chief financial officer directly owned 188,661 shares in the company, valued at $13,398,704.22. This represents a 0.42% 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 1,036 shares of the business'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 transaction of $77,700.00. Following the completion of the transaction, the insider owned 85,330 shares of the company's stock, valued at $6,399,750. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,649 shares of company stock valued at $3,164,856. 21.50% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding PCOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procore Technologies, Inc. (NYSE:PCOR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.