Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by Marble Harbor Investment Counsel LLC

Key Points

• Marble Harbor Investment Counsel LLC increased its stake in Procore Technologies by 13.5%, owning approximately 0.06% of the company worth nearly $6 million following the purchase of additional shares.
• Procore Technologies reported earnings per share of $0.35 for the last quarter, surpassing expectations, with revenue of $323.92 million, a 13.9% increase year-over-year.
• Insider selling included major shareholder Iconiq Strategic Partners IV selling 192,803 shares at about $64.76, representing a 5.79% decrease in their position.

Marble Harbor Investment Counsel LLC grew its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 13.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,458 shares of the company's stock after acquiring an additional 10,790 shares during the period. Marble Harbor Investment Counsel LLC owned about 0.06% of Procore Technologies worth $5,972,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Huntington National Bank grew its position in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after buying an additional 404 shares during the last quarter. Aster Capital Management DIFC Ltd grew its position in Procore Technologies by 181.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock worth $63,000 after buying an additional 544 shares during the last quarter. Ancora Advisors LLC grew 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 worth $64,000 after buying an additional 850 shares during the last quarter. Versant Capital Management Inc grew 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 worth $66,000 after buying an additional 636 shares during the last quarter. Finally, GeoWealth Management LLC acquired a new position in Procore Technologies in the fourth quarter worth approximately $78,000. Institutional investors own 81.10% of the company's stock.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,035 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $72.36, for a total value of $581,412.60. Following the sale, the director owned 1,154,097 shares in the company, valued at approximately $83,510,458.92. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J.G. Griffith sold 309,168 shares of Procore Technologies stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $64.76, for a total value of $20,021,719.68. Following the completion of the sale, the director owned 1,893,458 shares of the company's stock, valued at $122,620,340.08. The trade was a 14.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 672,447 shares of company stock worth $43,878,843. 29.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PCOR. DA Davidson began coverage on shares of Procore Technologies in a research report on Monday. They set a "neutral" rating and a $70.00 price objective on the stock. Arete started coverage on shares of Procore Technologies in a research note on Monday, June 16th. They issued a "buy" rating and a $91.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Mizuho lifted their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.06.

Procore Technologies Stock Performance

Shares of PCOR traded down $0.98 during trading hours on Thursday, hitting $62.69. The company's stock had a trading volume of 427,611 shares, compared to its average volume of 1,451,512. The company has a market cap of $9.42 billion, a price-to-earnings ratio of -65.19 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 1.19. The business has a 50 day simple moving average of $69.42 and a two-hundred day simple moving average of $69.98. Procore Technologies, Inc. has a 52-week low of $52.15 and a 52-week high of $88.92.

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 for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The firm had revenue of $323.92 million during the quarter, compared to analyst estimates of $311.91 million. During the same period in the previous year, the business posted $0.39 EPS. The business's quarterly revenue was up 13.9% on a year-over-year basis. On average, equities analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.