Procore Technologies, Inc. $PCOR Shares Bought by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in Procore Technologies by 9.6%, now owning approximately 154,541 shares valued at $10.2 million.
• Insider sales included Director William J.G. Griffith selling 309,168 shares for over $20 million, reflecting a 14.04% decrease in his ownership.
• Procore reported a quarterly revenue of $323.92 million, exceeding analysts' expectations, and set its FY 2025 guidance for EPS.

Rhumbline Advisers grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 9.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,541 shares of the company's stock after purchasing an additional 13,534 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Procore Technologies worth $10,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCOR. Brighton Jones LLC acquired a new stake in Procore Technologies during the fourth quarter worth approximately $511,000. Mercer Global Advisors Inc. ADV acquired a new stake in Procore Technologies during the fourth quarter worth approximately $273,000. BNP Paribas Financial Markets acquired a new stake in Procore Technologies during the fourth quarter worth approximately $1,058,000. Balyasny Asset Management L.P. acquired a new stake in Procore Technologies during the fourth quarter worth approximately $867,000. Finally, Captrust Financial Advisors acquired a new stake in Procore Technologies during the fourth quarter worth approximately $224,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

PCOR has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on shares of Procore Technologies from $75.00 to $80.00 and gave the company a "buy" rating in a report on Friday, August 1st. Robert W. Baird lifted 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. Barclays lifted 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. DA Davidson initiated coverage on shares of Procore Technologies in a report on Monday, August 4th. They issued a "neutral" rating and a $70.00 target price on the stock. Finally, BMO Capital Markets lifted 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 analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.06.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 814 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $74.35, for a total transaction of $60,520.90. Following the sale, the chief financial officer directly owned 197,457 shares in the company, valued at approximately $14,680,927.95. The trade was a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 4,500 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $75.00, for a total transaction of $337,500.00. Following the sale, 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. In the last three months, insiders have sold 35,921 shares of company stock valued at $2,525,652. 21.50% of the stock is owned by company insiders.

Procore Technologies Stock Performance

PCOR traded up $0.11 during trading on Tuesday, hitting $71.12. The stock had a trading volume of 387,446 shares, compared to its average volume of 1,456,198. 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 has a market capitalization of $10.68 billion, a P/E ratio of -74.09 and a beta of 0.90. The company's 50-day moving average price is $69.15 and its 200 day moving average price is $67.45. Procore Technologies, Inc. has a twelve month low of $53.71 and a twelve month 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 (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $323.92 million for the quarter, compared to analysts' expectations of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. Procore Technologies's revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.