Procore Technologies, Inc. $PCOR Shares Sold by Temasek Holdings Private Ltd

Key Points

• Temasek Holdings has reduced its stake in Procore Technologies by 53.2%, now holding 21,849 shares worth approximately $1.44 million following the sale of 24,853 shares.
• Procore Technologies reported a 13.9% year-over-year revenue increase with $323.92 million in revenue for the recent quarter, surpassing analysts' expectations.
• The company has a market capitalization of $10.51 billion and has received various analyst ratings, including a consensus rating of "Moderate Buy" with a price target of around $83.06.

Temasek Holdings Private Ltd lowered its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 53.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,849 shares of the company's stock after selling 24,853 shares during the quarter. Temasek Holdings Private Ltd's holdings in Procore Technologies were worth $1,442,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted 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 worth $35,000 after purchasing an additional 385 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Procore Technologies during the 1st quarter valued at approximately $49,000. Versant Capital Management Inc lifted its position in shares of Procore Technologies by 174.2% during the 1st quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock valued at $66,000 after buying an additional 636 shares in the last quarter. Signaturefd LLC lifted its position in shares of Procore Technologies by 53.4% during the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company's stock valued at $79,000 after buying an additional 419 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of 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 buying an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Trading Down 2.1%

Shares of PCOR traded down $1.49 during midday trading on Wednesday, reaching $68.55. The company had a trading volume of 894,440 shares, compared to its average volume of 1,466,850. Procore Technologies, Inc. has a 1-year low of $52.78 and a 1-year high of $88.92. The stock has a market cap of $10.29 billion, a PE ratio of -71.40 and a beta of 0.90. The firm has a 50 day simple moving average of $69.28 and a 200-day simple moving average of $67.75. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $311.91 million. During the same period last year, the company earned $0.39 EPS. The company's revenue for the quarter 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. Research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PCOR shares. BMO Capital Markets increased their target price on Procore Technologies from $75.00 to $82.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Barclays increased their target price on Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. KeyCorp increased their target price on Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Citizens Jmp lowered Procore Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 1st. Finally, Mizuho raised their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.06.

Insiders Place Their Bets

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

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.