Siren L.L.C. Lowers Stock Position in Procore Technologies, Inc. $PCOR

Key Points

• Siren L.L.C. significantly reduced its stake in Procore Technologies, selling 10,000 shares to hold a total of 10,000 shares valued at $660,000.
• Analysts have issued a range of ratings for Procore Technologies, with a consensus price target of $83.06 and reports indicating numerous increases in target prices among various financial firms.
• Insider trading activity has included notable sales by the Director and CFO, with insiders selling a total of 664,449 shares worth over $43 million in the last three months.

Siren L.L.C. reduced its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 50.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,000 shares of the company's stock after selling 10,000 shares during the period. Siren L.L.C.'s holdings in Procore Technologies were worth $660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its position 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 worth $1,318,000 after purchasing an additional 9,428 shares during the period. GAMMA Investing LLC lifted its stake 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. Brown Advisory Inc. lifted its stake in shares of Procore Technologies by 87.4% in 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 during the period. Amalgamated Bank lifted its stake in shares of Procore Technologies by 4.2% in 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 during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Procore Technologies by 8.6% in 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 during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Price Performance

Shares of NYSE PCOR traded up $0.40 during mid-day trading on Wednesday, reaching $68.03. The company's stock had a trading volume of 321,713 shares, compared to its average volume of 1,465,016. The stock has a 50-day moving average of $69.14 and a two-hundred day moving average of $68.30. The stock has a market capitalization of $10.22 billion, a P/E ratio of -70.89 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. Procore Technologies, Inc. has a 1-year low of $52.78 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its 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. The business had revenue of $323.92 million during the quarter, compared to analysts' expectations of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCOR. Mizuho upped their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Barclays upped their price objective on shares of Procore Technologies from $72.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Robert W. Baird upped their price objective on shares of Procore Technologies from $83.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. DA Davidson began coverage on shares of Procore Technologies in a research report on Monday, August 4th. They issued a "neutral" rating and a $70.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.06.

Insider Activity

In other news, Director Connor Kevin J. O sold 8,035 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $72.36, for a total transaction of $581,412.60. Following the transaction, the director owned 1,154,097 shares of the company's stock, valued at approximately $83,510,458.92. The trade was a 0.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 3,137,255 shares in the company, valued at approximately $203,168,633.80. The trade was a 5.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 664,449 shares of company stock worth $43,235,011. Insiders own 21.50% of the company's stock.

Procore Technologies 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.