Procore Technologies, Inc. $PCOR Shares Sold by Advantage Alpha Capital Partners LP

Key Points

• Advantage Alpha Capital Partners LP reduced its stake in Procore Technologies by 26.7%, now holding 57,994 shares worth approximately $3.83 million.
• Insider Benjamin C. Singer sold 1,390 shares at $75 each, representing a 1.42% decrease in his holdings, while major shareholder Iconiq Strategic Partners IV reduced their stake by 5.79%.
• Procore Technologies reported $0.35 EPS for Q2, exceeding estimates, with a 13.9% year-over-year revenue growth, while the stock saw price target adjustments from various analysts.

Advantage Alpha Capital Partners LP reduced its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 26.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,994 shares of the company's stock after selling 21,082 shares during the period. Advantage Alpha Capital Partners LP's holdings in Procore Technologies were worth $3,829,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PCOR. Ancora Advisors LLC raised its position in shares of Procore Technologies by 10,625.0% during the 4th quarter. Ancora Advisors LLC now owns 858 shares of the company's stock worth $64,000 after purchasing an additional 850 shares during the last quarter. Versant Capital Management Inc grew its stake in 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 period. GeoWealth Management LLC purchased a new stake in Procore Technologies in the 4th quarter worth approximately $78,000. Signaturefd LLC grew its stake in 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 period. Finally, GAMMA Investing LLC grew its stake in 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 period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Benjamin C. Singer sold 1,390 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $75.00, for a total value of $104,250.00. Following the completion of the sale, the insider owned 96,167 shares in the company, valued at approximately $7,212,525. This represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $64.76, for a total transaction of $12,485,922.28. Following the completion of the sale, the insider owned 3,137,255 shares of the company's stock, valued at approximately $203,168,633.80. This trade represents a 5.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 659,447 shares of company stock worth $42,916,391 in the last quarter. Insiders own 21.50% of the company's stock.

Procore Technologies Trading Up 0.6%

Procore Technologies stock opened at $64.6640 on Friday. Procore Technologies, Inc. has a 12-month low of $52.78 and a 12-month high of $88.92. The stock has a market capitalization of $9.71 billion, a PE ratio of -67.36 and a beta of 0.90. The firm has a 50 day simple moving average of $68.86 and a 200-day simple moving average of $68.86. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.35 EPS for the quarter, beating the consensus estimate 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 business had revenue of $323.92 million during the quarter, compared to analyst estimates of $311.91 million. During the same period in the prior year, the business earned $0.39 earnings per share. The business's quarterly 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. As a group, equities research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PCOR. Scotiabank lowered their target price on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. Robert W. Baird boosted their price objective on shares of Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. UBS Group lowered their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Piper Sandler upped their price target 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. Finally, Stifel Nicolaus upped their price target on shares of Procore Technologies from $75.00 to $80.00 and gave the stock a "buy" 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 company. Based on data from MarketBeat.com, Procore Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $83.06.

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.

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