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 Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PCOR. Ellsworth Advisors LLC increased its holdings in shares of Procore Technologies by 6.5% in the first quarter. Ellsworth Advisors LLC now owns 8,900 shares of the company's stock valued at $588,000 after purchasing an additional 545 shares during the last quarter. Advisors Capital Management LLC grew its holdings in Procore Technologies by 8.1% in the 1st quarter. Advisors Capital Management LLC now owns 155,369 shares of the company's stock valued at $10,257,000 after buying an additional 11,590 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Procore Technologies by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company's stock worth $23,156,000 after acquiring an additional 52,507 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Procore Technologies by 15.4% during the 1st quarter. Fred Alger Management LLC now owns 38,349 shares of the company's stock worth $2,532,000 after acquiring an additional 5,129 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Procore Technologies by 5.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company's stock valued at $48,392,000 after acquiring an additional 36,426 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Insiders Place Their Bets

In other news, Director William J.G. Griffith sold 309,168 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $64.76, for a total transaction of $20,021,719.68. Following the sale, the director owned 1,893,458 shares of the company's stock, valued at approximately $122,620,340.08. This trade represents a 14.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 4,500 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $75.00, for a total value of $337,500.00. Following the completion of the transaction, the insider directly owned 97,557 shares of the company's stock, valued at $7,316,775. This trade represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 661,949 shares of company stock worth $43,071,686. Insiders own 21.50% of the company's stock.

Procore Technologies Price Performance

Shares of PCOR opened at $68.55 on Thursday. Procore Technologies, Inc. has a twelve month low of $52.78 and a twelve month high of $88.92. The firm's fifty day simple moving average is $69.24 and its 200-day simple moving average is $67.75. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of -71.40 and a beta of 0.90. The company has a current ratio of 1.29, a quick 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 EPS 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 the consensus estimate of $311.91 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company's revenue 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. Equities analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

PCOR has been the topic of a number of recent analyst reports. JMP Securities reiterated a "market perform" rating and issued a $95.00 price objective on shares of Procore Technologies in a report on Friday, August 1st. Citizens Jmp lowered Procore Technologies from an "outperform" rating to a "market perform" rating in a research note on Friday, August 1st. KeyCorp upped their price target on Procore Technologies from $77.00 to $81.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Robert W. Baird increased their target price on Procore Technologies from $83.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Barclays lifted their target price on Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Procore Technologies presently has a consensus 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.

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