Procore Technologies, Inc. $PCOR Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Procore Technologies by 10.7% in Q1, selling 371,354 shares, and now holds about 2.08% of the company valued at $204.5 million.
• Recent analyst ratings for Procore Technologies include an upward price target from BMO Capital Markets to $82.00 and a downgrade from Citizens JMP to "market perform," with the stock rated as a "Moderate Buy" overall.
• Procore Technologies reported $0.35 earnings per share for the last quarter, exceeding expectations and showing a 13.9% year-over-year revenue increase with revenues of $323.92 million.

Price T Rowe Associates Inc. MD cut its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,097,063 shares of the company's stock after selling 371,354 shares during the period. Price T Rowe Associates Inc. MD owned about 2.08% of Procore Technologies worth $204,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 acquiring an additional 850 shares during the last quarter. 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 acquiring an additional 636 shares during the last quarter. GeoWealth Management LLC purchased a new stake in Procore Technologies in the fourth quarter valued at $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 acquiring an additional 419 shares during the last quarter. 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 acquiring an additional 497 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Stock Performance

NYSE PCOR traded down $0.35 during trading hours on Friday, hitting $69.54. 213,103 shares of the stock were exchanged, compared to its average volume of 1,465,174. The company has a market cap of $10.44 billion, a price-to-earnings ratio of -72.45 and a beta of 0.90. Procore Technologies, Inc. has a 12-month low of $52.78 and a 12-month high of $88.92. The stock has a 50-day moving average of $69.03 and a 200 day moving average of $68.55. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $323.92 million for the quarter, compared to analyst estimates of $311.91 million. During the same period in the prior year, the business posted $0.39 earnings per share. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 2,500 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were 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 represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin C. Singer sold 4,500 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $75.00, for a total transaction of $337,500.00. Following the transaction, the insider owned 97,557 shares in the company, valued at $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. Insiders sold a total of 664,449 shares of company stock valued at $43,235,011 in the last ninety days. Company insiders own 21.50% of the company's stock.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of research reports. Barclays upped their target price on shares of Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Robert W. Baird upped their target price on shares of Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Citizens Jmp cut shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. Mizuho upped their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, BMO Capital Markets upped their target price on shares of Procore Technologies from $75.00 to $82.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One equities research 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 company's stock. According to data from MarketBeat.com, Procore Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $83.06.

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.