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 lowered its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 25.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,276 shares of the company's stock after selling 9,567 shares during the period. Procore Technologies makes up 1.6% of Elwood Capital Partners LP's portfolio, making the stock its 17th biggest position. Elwood Capital Partners LP's holdings in Procore Technologies were worth $1,867,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Teacher Retirement System of Texas grew its holdings in Procore Technologies by 89.5% during the 1st quarter. Teacher Retirement System of Texas now owns 19,957 shares of the company's stock valued at $1,318,000 after purchasing an additional 9,428 shares in the last quarter. GAMMA Investing LLC grew its holdings in Procore Technologies by 66.6% during 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 in the last quarter. Brown Advisory Inc. grew its holdings in Procore Technologies by 87.4% during the 1st quarter. Brown Advisory Inc. now owns 12,943 shares of the company's stock valued at $854,000 after purchasing an additional 6,038 shares in the last quarter. Amalgamated Bank grew its holdings in Procore Technologies by 4.2% during the 1st quarter. Amalgamated Bank now owns 7,374 shares of the company's stock valued at $487,000 after purchasing an additional 295 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Procore Technologies by 8.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,702 shares of the company's stock valued at $508,000 after purchasing an additional 613 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Insiders Place Their Bets

In other Procore Technologies news, CFO Howard Fu sold 797 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $63.85, for a total transaction of $50,888.45. Following the sale, the chief financial officer directly owned 189,457 shares in the company, valued at approximately $12,096,829.45. The trade was a 0.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Connor Kevin J. O sold 7,692 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $66.28, for a total transaction of $509,825.76. Following the sale, the director owned 1,146,405 shares in the company, valued at $75,983,723.40. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 664,449 shares of company stock worth $43,235,011. 21.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PCOR shares. KeyCorp raised their price target on shares of Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Barclays raised their price objective on shares of Procore Technologies from $72.00 to $82.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. JMP Securities reissued a "market perform" rating and set a $95.00 price objective on shares of Procore Technologies in a report on Friday, August 1st. Citizens Jmp lowered shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. Finally, BMO Capital Markets raised their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.06.

Procore Technologies Stock Performance

NYSE:PCOR traded up $1.88 during mid-day trading on Thursday, hitting $69.67. The stock had a trading volume of 452,148 shares, compared to its average volume of 1,469,454. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of -72.58 and a beta of 0.90. The company has a 50 day simple moving average of $68.96 and a 200-day simple moving average of $68.59. Procore Technologies, Inc. has a 52 week low of $52.78 and a 52 week high of $88.92. 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 quarterly earnings data on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The firm had revenue of $323.92 million for the quarter, compared to the consensus estimate of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. Procore Technologies's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. 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.