Jones Financial Companies Lllp Purchases 109,443 Shares of Procore Technologies, Inc. $PCOR

Key Points

• Jones Financial Companies Lllp has significantly increased its stake in Procore Technologies, purchasing an additional 109,443 shares, bringing their total ownership to approximately 0.07% of the company.
• Procore Technologies reported earnings of $0.35 per share, surpassing analysts' expectations of $0.24, with revenue growth of 13.9% year-over-year.
• Institutional investors now own 81.10% of Procore Technologies, indicating strong interest from hedge funds and institutions in the company's stock.

Jones Financial Companies Lllp raised its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 1,094,430.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,453 shares of the company's stock after buying an additional 109,443 shares during the period. Jones Financial Companies Lllp owned about 0.07% of Procore Technologies worth $7,226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCOR. Northwestern Mutual Wealth Management Co. boosted its position in Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock worth $35,000 after acquiring an additional 385 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Procore Technologies in the 1st quarter worth approximately $49,000. Versant Capital Management Inc lifted its holdings in shares of Procore Technologies by 174.2% in the 1st quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock worth $66,000 after acquiring an additional 636 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Procore Technologies by 53.4% in the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company's stock worth $79,000 after acquiring an additional 419 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Procore Technologies by 66.6% in the 1st quarter. GAMMA Investing LLC now owns 1,243 shares of the company's stock worth $82,000 after acquiring an additional 497 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCOR has been the topic of several analyst reports. Citizens Jmp downgraded shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. 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. 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 price target for the company. JMP Securities reissued a "market perform" rating and issued a $95.00 price objective on shares of Procore Technologies in a research report on Friday, August 1st. Finally, Mizuho raised their price target 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. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.06.

Insider Transactions at Procore Technologies

In other news, CFO Howard Fu sold 814 shares of Procore Technologies stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $74.35, for a total value of $60,520.90. Following the transaction, the chief financial officer directly owned 197,457 shares of the company's stock, valued at $14,680,927.95. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Benjamin C. Singer sold 4,500 shares of the business'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 transaction of $337,500.00. Following the transaction, the insider directly 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 have sold a total of 43,613 shares of company stock valued at $3,028,247 over the last ninety days. Corporate insiders own 21.50% of the company's stock.

Procore Technologies Stock Performance

NYSE:PCOR traded down $0.93 during mid-day trading on Friday, hitting $69.67. The stock had a trading volume of 1,248,360 shares, compared to its average volume of 1,344,919. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of -72.57 and a beta of 0.90. The company has a 50 day simple moving average of $69.16 and a 200-day simple moving average of $67.62. 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 released its quarterly 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 company had revenue of $323.92 million for the quarter, compared to the consensus estimate of $311.91 million. During the same period in the previous year, the firm earned $0.39 EPS. Procore Technologies's revenue was up 13.9% on a year-over-year basis. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.