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

Key Points

• Elwood Capital Partners LP reduced its holdings in Procore Technologies by 25.3%, selling 9,567 shares, and now owns 28,276 shares valued at approximately $1.87 million.
• Insider Benjamin C. Singer sold 4,205 shares of Procore Technologies for over $267,000, while CFO Howard Fu sold 797 shares for about $50,888.
• Procore Technologies reported a quarterly revenue of $323.92 million, exceeding estimates, with an EPS of $0.35, as analysts maintain a consensus rating of "Moderate Buy" and an average price target of $83.06.

Elwood Capital Partners LP trimmed its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 25.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,276 shares of the company's stock after selling 9,567 shares during the quarter. Procore Technologies accounts for about 1.6% of Elwood Capital Partners LP's portfolio, making the stock its 17th biggest holding. Elwood Capital Partners LP's holdings in Procore Technologies were worth $1,867,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PCOR. Ancora Advisors LLC lifted its stake in Procore Technologies by 10,625.0% during the fourth quarter. Ancora Advisors LLC now owns 858 shares of the company's stock valued at $64,000 after buying an additional 850 shares in the last quarter. Versant Capital Management Inc increased 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 valued at $66,000 after purchasing an additional 636 shares during the period. GeoWealth Management LLC acquired a new position in shares of Procore Technologies in the 4th quarter valued at about $78,000. Signaturefd LLC increased 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 valued at $79,000 after purchasing an additional 419 shares during the period. Finally, GAMMA Investing LLC increased 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 valued at $82,000 after purchasing an additional 497 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 4,205 shares of Procore Technologies stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $63.67, for a total transaction of $267,732.35. Following the sale, the insider owned 86,366 shares in the company, valued at $5,498,923.22. The trade was a 4.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Fu sold 797 shares of Procore Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $63.85, for a total transaction of $50,888.45. Following the sale, the chief financial officer owned 189,457 shares in the company, valued at $12,096,829.45. This represents a 0.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 664,449 shares of company stock worth $43,235,011 over the last 90 days. Corporate insiders own 21.50% of the company's stock.

Procore Technologies Trading Up 4.8%

Shares of PCOR stock opened at $67.7590 on Friday. Procore Technologies, Inc. has a 12 month low of $52.78 and a 12 month high of $88.92. 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 business's 50 day moving average is $68.94 and its two-hundred day moving average is $68.79. The company has a market cap of $10.18 billion, a PE ratio of -70.58 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly 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 return on equity of 7.66% and a negative net margin of 11.58%.The company had revenue of $323.92 million for the quarter, compared to the consensus estimate of $311.91 million. During the same quarter last year, the company posted $0.39 earnings per share. The company's revenue for the quarter 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 predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler upped their target price on Procore Technologies from $75.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, August 1st. DA Davidson started coverage on Procore Technologies in a report on Monday, August 4th. They issued a "neutral" rating and a $70.00 price objective on the stock. Citizens Jmp downgraded Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. Stifel Nicolaus increased their price objective on Procore Technologies from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Mizuho increased their price objective on Procore Technologies from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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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