Two Star Manager LLC Has $10.42 Million Position in Procore Technologies, Inc. $PCOR

Key Points

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Two Star Manager LLC grew its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 57.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,850 shares of the company's stock after buying an additional 57,505 shares during the quarter. Procore Technologies makes up approximately 5.0% of Two Star Manager LLC's portfolio, making the stock its 12th largest position. Two Star Manager LLC owned approximately 0.11% of Procore Technologies worth $10,421,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Two Sigma Investments LP increased its stake in Procore Technologies by 5.3% in the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company's stock valued at $313,000 after buying an additional 210 shares during the period. Park Avenue Securities LLC increased its stake in Procore Technologies by 1.7% in the 1st quarter. Park Avenue Securities LLC now owns 12,934 shares of the company's stock valued at $854,000 after buying an additional 221 shares during the period. Xponance Inc. increased its stake in Procore Technologies by 1.8% in the 1st quarter. Xponance Inc. now owns 14,864 shares of the company's stock valued at $981,000 after buying an additional 263 shares during the period. Procyon Advisors LLC raised its position in Procore Technologies by 8.6% during the first quarter. Procyon Advisors LLC now owns 3,514 shares of the company's stock valued at $232,000 after acquiring an additional 278 shares in the last quarter. Finally, Amalgamated Bank raised its position in Procore Technologies by 4.2% during the first quarter. Amalgamated Bank now owns 7,374 shares of the company's stock valued at $487,000 after acquiring an additional 295 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Procore Technologies

In related news, Director William J.G. Griffith sold 309,168 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $64.76, for a total transaction of $20,021,719.68. Following the transaction, the director owned 1,893,458 shares of the company's stock, valued at approximately $122,620,340.08. The trade was a 14.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 8,035 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $72.36, for a total transaction of $581,412.60. Following the transaction, the director directly owned 1,154,097 shares in the company, valued at $83,510,458.92. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 664,449 shares of company stock valued at $43,235,011 in the last three months. 21.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Piper Sandler raised their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Arete assumed coverage on shares of Procore Technologies in a research report on Monday, June 16th. They set a "buy" rating and a $91.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of Procore Technologies from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Citizens Jmp lowered shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.06.

Procore Technologies Stock Performance

Shares of NYSE:PCOR traded up $3.0790 during trading on Friday, reaching $67.7590. The stock had a trading volume of 2,906,259 shares, compared to its average volume of 2,412,672. Procore Technologies, Inc. has a 52 week low of $52.78 and a 52 week high of $88.92. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of -70.58 and a beta of 0.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $68.94 and a two-hundred day simple moving average of $68.79.

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. 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 quarter last year, the firm posted $0.39 earnings per share. The company's quarterly 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. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Procore Technologies Company 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.