135,000 Shares in Procore Technologies, Inc. $PCOR Purchased by LTS One Management LP

Key Points

• LTS One Management LP acquired a new stake in Procore Technologies, Inc. valued at approximately $8.91 million, representing 2.7% of its total holdings.
• Other institutional investors significantly increased their holdings in Procore Technologies, with Teacher Retirement System of Texas boosting its position by 89.5%.
• Procore Technologies reported a 13.9% year-over-year increase in quarterly revenue, totaling $323.92 million, exceeding analysts' estimates.

LTS One Management LP bought a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 135,000 shares of the company's stock, valued at approximately $8,913,000. Procore Technologies accounts for about 2.7% of LTS One Management LP's investment portfolio, making the stock its 18th biggest holding. LTS One Management LP owned approximately 0.09% of Procore Technologies at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PCOR. Northwestern Mutual Wealth Management Co. lifted its stake 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 buying an additional 385 shares during the period. SVB Wealth LLC acquired a new position in Procore Technologies in the first quarter valued at approximately $49,000. Ancora Advisors LLC lifted its stake 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 during the period. Versant Capital Management Inc lifted its stake 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 during the period. Finally, Signaturefd LLC lifted its stake 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 during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Procore Technologies Stock Down 0.5%

Shares of PCOR stock traded down $0.33 during trading hours on Friday, reaching $69.55. The company had a trading volume of 1,087,881 shares, compared to its average volume of 2,407,184. Procore Technologies, Inc. has a 12 month low of $52.78 and a 12 month high of $88.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. The business has a fifty day simple moving average of $69.09 and a 200-day simple moving average of $68.47. The company has a market cap of $10.45 billion, a price-to-earnings ratio of -72.45 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.35 earnings per share 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 for the quarter, compared to analysts' expectations of $311.91 million. During the same period last year, the business earned $0.39 EPS. The business's revenue was up 13.9% on a year-over-year basis. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price target on Procore Technologies from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, August 1st. KeyCorp boosted their price target on Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JMP Securities reissued a "market perform" rating and issued a $95.00 price target on shares of Procore Technologies in a research note on Friday, August 1st. Robert W. Baird upped their target price on Procore Technologies from $83.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, DA Davidson began coverage on shares of Procore Technologies in a research report on Monday, August 4th. They issued a "neutral" rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.06.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 2,500 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $65.33, for a total transaction of $163,325.00. Following the transaction, the executive directly owned 208,288 shares in the company, valued at approximately $13,607,455.04. This trade represents a 1.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of Procore Technologies stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $64.76, for a total transaction of $12,485,922.28. Following the completion of the sale, the insider directly owned 3,137,255 shares in the company, valued at approximately $203,168,633.80. This represents a 5.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 664,449 shares of company stock worth $43,235,011. 21.50% of the stock is currently owned by 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.