Kids Capital Management L.P. Acquires Shares of 82,000 Procore Technologies, Inc. $PCOR

Key Points

• Kids Capital Management L.P. invested approximately $5.41 million in Procore Technologies, acquiring 82,000 shares, which represents about 6.0% of their portfolio.
• Insider Benjamin C. Singer sold 1,390 shares of Procore Technologies at an average price of $75.00, reducing his ownership by 1.42%.
• Analysts have a consensus "Moderate Buy" rating for Procore Technologies, with an average target price raised to $83.06.

Kids Capital Management L.P. purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 82,000 shares of the company's stock, valued at approximately $5,414,000. Procore Technologies comprises approximately 6.0% of Kids Capital Management L.P.'s holdings, making the stock its 8th biggest position. Kids Capital Management L.P. owned about 0.05% of Procore Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PCOR. Ancora Advisors LLC lifted 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 purchasing an additional 850 shares during the period. Versant Capital Management Inc lifted 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 purchasing an additional 636 shares during the period. GeoWealth Management LLC acquired a new stake in Procore Technologies in the fourth quarter valued at about $78,000. Signaturefd LLC lifted 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 purchasing an additional 419 shares during the period. Finally, GAMMA Investing LLC lifted 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 during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Trading Up 1.3%

PCOR stock traded up $0.84 during midday trading on Monday, hitting $66.10. The stock had a trading volume of 737,106 shares, compared to its average volume of 2,395,262. The firm has a market cap of $9.93 billion, a PE ratio of -68.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. Procore Technologies, Inc. has a 12-month low of $52.78 and a 12-month high of $88.92. The company's 50-day moving average price is $68.93 and its 200 day moving average price is $69.01.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 EPS. On average, equities research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective 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. UBS Group reduced their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Barclays lifted 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. KeyCorp lifted their price target on shares of Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Mizuho lifted their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $83.06.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $64.76, for a total value of $12,485,922.28. Following the completion of the transaction, the insider directly owned 3,137,255 shares of the company's stock, valued at $203,168,633.80. This represents a 5.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Benjamin C. Singer sold 4,500 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $75.00, for a total transaction of $337,500.00. Following the completion of the transaction, the insider directly owned 97,557 shares of the company's stock, valued at approximately $7,316,775. The trade was a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 656,755 shares of company stock worth $42,751,179. Corporate insiders own 21.50% of the company's stock.

About Procore Technologies

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.