B. Metzler seel. Sohn & Co. AG Buys 11,155 Shares of Procore Technologies, Inc. $PCOR

Key Points

• B. Metzler seel. Sohn & Co. AG significantly increased its stake in Procore Technologies, raising ownership by 47.5% during the first quarter, now holding shares worth around $2.3 million.
• Procore Technologies reported a quarterly revenue increase of 13.9% and beat earnings expectations with an EPS of $0.35 compared to a consensus of $0.24.
• Institutional investors own 81.10% of Procore Technologies' stock, reflecting strong interest and confidence in the company from financial institutions.

B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 47.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,621 shares of the company's stock after acquiring an additional 11,155 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Procore Technologies were worth $2,286,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PCOR. Northwestern Mutual Wealth Management Co. grew its stake in shares of Procore Technologies by 277.0% in the 1st 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 stake in shares of Procore Technologies in the 1st quarter valued at about $49,000. Ancora Advisors LLC lifted its position in Procore Technologies by 10,625.0% in the 4th quarter. Ancora Advisors LLC now owns 858 shares of the company's stock valued at $64,000 after acquiring an additional 850 shares in the last quarter. Versant Capital Management Inc lifted its position in Procore Technologies by 174.2% in the 1st 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 in the last quarter. Finally, Signaturefd LLC lifted its position in Procore Technologies by 53.4% in the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company's stock valued at $79,000 after acquiring an additional 419 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Benjamin C. Singer sold 4,500 shares of Procore Technologies stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Lawrence Joseph Stack sold 2,500 shares of Procore Technologies 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 sale, the executive directly owned 208,288 shares of the company's stock, valued at $13,607,455.04. This represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 664,449 shares of company stock worth $43,235,011. Company insiders own 21.50% of the company's stock.

Procore Technologies Stock Performance

Procore Technologies stock traded down $1.71 during mid-day trading on Tuesday, reaching $67.80. The company's stock had a trading volume of 648,550 shares, compared to its average volume of 1,465,456. Procore Technologies, Inc. has a 12-month low of $52.78 and a 12-month high of $88.92. The company has a market capitalization of $10.18 billion, a P/E ratio of -70.63 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. The firm's fifty day moving average price is $69.16 and its two-hundred day moving average price is $68.30.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $323.92 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citizens Jmp cut shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a research report 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 research report on Friday, August 1st. DA Davidson initiated coverage on shares of Procore Technologies in a research report on Monday, August 4th. They set a "neutral" rating and a $70.00 target price on the stock. KeyCorp lifted their target price on shares of Procore Technologies from $77.00 to $81.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Piper Sandler lifted their target price on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.