Quent Capital LLC Grows Stock Holdings in Procore Technologies, Inc. $PCOR

Key Points

• Quent Capital LLC significantly increased its ownership in Procore Technologies, raising its position by 178,459.1% to a total of 39,283 shares valued at approximately $2.69 million.
• Notable insider transactions include CFO Howard Fu selling 796 shares valued at over $56,000 and Director Connor Kevin J. O selling 7,692 shares for about $558,000, impacting their respective ownership stakes.
• Procore Technologies reported a quarterly earnings per share of $0.35, exceeding expectations, with revenue of $323.92 million, up 13.9% year-over-year.

Quent Capital LLC raised its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 178,459.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,283 shares of the company's stock after purchasing an additional 39,261 shares during the period. Quent Capital LLC's holdings in Procore Technologies were worth $2,688,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised 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 valued at $35,000 after purchasing an additional 385 shares in the last quarter. SVB Wealth LLC purchased a new stake in Procore Technologies during the first quarter valued at about $49,000. Hilltop National Bank purchased a new stake in Procore Technologies during the second quarter valued at about $62,000. Signaturefd LLC raised its position in Procore Technologies by 53.4% during the first quarter. Signaturefd LLC now owns 1,203 shares of the company's stock valued at $79,000 after purchasing an additional 419 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Procore Technologies by 66.6% during the first 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. Hedge funds and other institutional investors own 81.10% of the company's stock.

Insider Transactions at Procore Technologies

In other news, CFO Howard Fu sold 796 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $71.02, for a total value of $56,531.92. Following the sale, the chief financial officer directly owned 188,661 shares of the company's stock, valued at $13,398,704.22. The trade was a 0.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Connor Kevin J. O sold 7,692 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $72.57, for a total value of $558,208.44. Following the completion of the sale, the director directly owned 1,123,329 shares in the company, valued at approximately $81,519,985.53. This represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,649 shares of company stock valued at $3,164,856 in the last ninety days. 21.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. KeyCorp raised their price target on Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Arete assumed coverage on Procore Technologies in a report on Monday, June 16th. They issued a "buy" rating and a $91.00 price objective on the stock. BMO Capital Markets lifted their price objective on Procore Technologies from $75.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Citizens Jmp downgraded Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Procore Technologies in a report on Saturday, September 27th. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.11.

Procore Technologies Stock Performance

Procore Technologies stock opened at $72.66 on Friday. The stock's 50 day simple moving average is $68.94 and its two-hundred day simple moving average is $67.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of -75.68 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted 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. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The business had revenue of $323.92 million for the quarter, compared to analysts' expectations of $311.91 million. During the same period in the previous year, the firm posted $0.39 EPS. The business'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. As a group, analysts expect 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.

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