Pier Capital LLC Cuts Stake in Procore Technologies, Inc. $PCOR

Key Points

• Pier Capital LLC reduced its stake in Procore by 44.2%, selling 56,176 shares and finishing the quarter with 70,984 shares valued at about $5.16 million.
• Procore's Q1 revenue beat expectations at $359.28 million (up 15.7% year‑over‑year), but EPS missed at $0.34 versus a $0.36 consensus and the company still reports negative net margins.
• Analyst sentiment is mixed but tilted positive — MarketBeat shows a consensus Moderate Buy with an average price target of $72.56 after recent target cuts — while insiders have sold ~148,026 shares in the last 90 days and institutions own 81.1% of the stock (Vanguard holds 13.16M shares).

Pier Capital LLC lowered its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 44.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,984 shares of the company's stock after selling 56,176 shares during the quarter. Pier Capital LLC's holdings in Procore Technologies were worth $5,163,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Procore Technologies by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 13,158,506 shares of the company's stock worth $957,150,000 after buying an additional 804,920 shares during the last quarter. Alliancebernstein L.P. raised its position in Procore Technologies by 493.9% during the 3rd quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company's stock worth $445,391,000 after buying an additional 5,079,534 shares during the last quarter. Wasatch Advisors LP raised its position in Procore Technologies by 6.8% during the 3rd quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company's stock worth $362,560,000 after buying an additional 315,604 shares during the last quarter. Principal Financial Group Inc. raised its position in Procore Technologies by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 3,428,825 shares of the company's stock worth $249,416,000 after buying an additional 127,256 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Procore Technologies by 77.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company's stock worth $248,066,000 after purchasing an additional 1,486,153 shares during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PCOR shares. Stifel Nicolaus lowered their price target on shares of Procore Technologies from $85.00 to $63.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Procore Technologies in a research note on Thursday, January 22nd. Canaccord Genuity Group lowered their price target on shares of Procore Technologies from $90.00 to $72.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. UBS Group lowered their price target on shares of Procore Technologies from $74.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Wall Street Zen cut shares of Procore Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $72.56.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 5,769 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $51.07, for a total transaction of $294,622.83. Following the sale, the director directly owned 990,983 shares of the company's stock, valued at $50,609,501.81. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Benjamin C. Singer sold 4,225 shares of the firm's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total transaction of $211,250.00. Following the sale, the insider directly owned 64,660 shares in the company, valued at $3,233,000. This represents a 6.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 148,026 shares of company stock valued at $7,783,734 in the last ninety days. Insiders own 16.80% of the company's stock.

Procore Technologies Price Performance

Procore Technologies stock opened at $53.58 on Friday. Procore Technologies, Inc. has a 12-month low of $46.08 and a 12-month high of $82.32. The stock has a market capitalization of $8.08 billion, a P/E ratio of -105.06 and a beta of 0.78. The firm's 50-day moving average is $55.78 and its two-hundred day moving average is $64.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.32.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Procore Technologies had a negative return on equity of 2.23% and a negative net margin of 5.61%.The firm had revenue of $359.28 million for the quarter, compared to analyst estimates of $352.82 million. During the same period in the prior year, the business earned $0.23 earnings per share. Procore Technologies's revenue for the quarter was up 15.7% on a year-over-year basis. Equities analysts predict that Procore Technologies, Inc. will post 0.09 earnings per share for the current year.

Key Procore Technologies News

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Q1 results showed revenue above expectations and narrower losses; the company also appointed an AI-focused board member, events investors see as improving execution and AI credibility. Why Procore Technologies (PCOR) Is Up 11.6%...
• Positive Sentiment: Markets / media are highlighting Procore as a top cloud-computing pick for 2026, which can support investor interest and multiple expansion if sentiment persists. Procore Technologies (PCOR) Is One Of The Best Cloud Computing Stocks To Buy In 2026
• Positive Sentiment: Several sell‑side firms still carry buy/overweight ratings and price targets implying 20–30%+ upside, signalling continued analyst conviction despite recent cuts (BTIG reaffirmed buy at $66). BTIG coverage
• Neutral Sentiment: In-depth coverage and analysis pieces (earnings-transcript, valuation pieces) are available for investors doing due diligence; these are informational rather than immediate catalysts. Q1 2026 earnings call transcript
• Neutral Sentiment: Market writeups questioning whether the pullback creates a buying opportunity—useful for longer‑term investors assessing risk/reward but not a direct price catalyst. Is Procore Now Attractive After Recent Share Price Pullback?
• Negative Sentiment: Multiple firms trimmed price targets recently (UBS: $74→$68; Goldman Sachs: $80→$70; Piper Sandler: $79→$71). While ratings largely remain buy/overweight, lower targets reduce upside expectations and can cap near-term gains. Procore Given New $68.00 Price Target at UBS Group Goldman Sachs PT note
• Negative Sentiment: Q1 EPS narrowly missed consensus (0.34 vs. 0.36) and the company still reports negative margins — fundamentals that could pressure the stock if margin improvement stalls. Procore Beats Q1 Sales Expectations But Stock Drops
• Neutral Sentiment: Analyst comment roundups (Globe and Mail) synthesize views but do not introduce new catalysts. Analysts Offer Insights on Technology Companies

Procore Technologies 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

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