Ieq Capital LLC Buys 23,449 Shares of Procore Technologies, Inc. $PCOR

Key Points

• Ieq Capital LLC has increased its stake in Procore Technologies by 10.1%, acquiring an additional 23,449 shares to own a total of 256,346 shares valued at approximately $16.9 million.
• Procore Technologies reported a 13.9% increase in quarterly revenue year-over-year, reaching $323.92 million, and exceeded earnings per share estimates by $0.11.
• Several equity analysts have assigned improved ratings for Procore Technologies, with target prices ranging from $70.00 to $91.00 and a consensus rating of "Moderate Buy".

Ieq Capital LLC increased its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 256,346 shares of the company's stock after acquiring an additional 23,449 shares during the period. Ieq Capital LLC owned about 0.17% of Procore Technologies worth $16,924,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PCOR. Northwestern Mutual Wealth Management Co. boosted its position in shares of Procore Technologies by 277.0% during the 1st 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 in the last quarter. SVB Wealth LLC acquired a new position in Procore Technologies in the first quarter valued at about $49,000. Ancora Advisors LLC boosted its position in Procore Technologies by 10,625.0% in the fourth quarter. Ancora Advisors LLC now owns 858 shares of the company's stock valued at $64,000 after buying an additional 850 shares in the last quarter. Versant Capital Management Inc boosted its position 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 buying an additional 636 shares in the last quarter. Finally, Signaturefd LLC boosted its position 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 buying an additional 419 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 797 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $63.85, for a total value of $50,888.45. Following the completion of the sale, the chief financial officer owned 189,457 shares of the company's stock, valued at approximately $12,096,829.45. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 4,205 shares of the company'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 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. Over the last 90 days, insiders sold 664,449 shares of company stock valued at $43,235,011. Corporate insiders own 21.50% of the company's stock.

Procore Technologies Price Performance

Shares of NYSE PCOR traded down $0.33 during trading on Monday, reaching $69.55. The company had a trading volume of 1,087,881 shares, compared to its average volume of 2,105,757. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $10.45 billion, a PE ratio of -72.45 and a beta of 0.90. The business's 50 day moving average price is $69.09 and its 200-day moving average price is $68.43. Procore Technologies, Inc. has a 52 week low of $52.78 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $323.92 million during the quarter, compared to the consensus estimate of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. Procore Technologies's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on PCOR. Piper Sandler boosted their price target on shares of Procore Technologies from $75.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird boosted their price target on shares of Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Arete began coverage on shares of Procore Technologies in a research report on Monday, June 16th. They issued a "buy" rating and a $91.00 price target on the stock. Barclays boosted their price target on shares of Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus boosted their target price on shares of Procore Technologies from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. One investment 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.06.

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.