Vanderbilt University Acquires 7,838 Shares of Procore Technologies, Inc. $PCOR

Key Points

• Vanderbilt University increased its holdings in Procore Technologies by 13.6%, acquiring an additional 7,838 shares and bringing its total to 65,574 shares, valued at approximately $4.49 million.
• Several large investors made significant changes to their positions in Procore Technologies, with JPMorgan Chase increasing its holdings by 84.5% during the first quarter, now owning over 3.26 million shares.
• Analysts are optimistic about Procore Technologies, with a consensus rating of "Moderate Buy" and an average target price of $83.06, following various upgrades to price targets from multiple investment firms.

Vanderbilt University raised its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 13.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,574 shares of the company's stock after acquiring an additional 7,838 shares during the quarter. Procore Technologies makes up about 0.8% of Vanderbilt University's investment portfolio, making the stock its 23rd biggest position. Vanderbilt University's holdings in Procore Technologies were worth $4,487,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PCOR. JPMorgan Chase & Co. increased its holdings in shares of Procore Technologies by 84.5% in the first quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company's stock worth $215,195,000 after purchasing an additional 1,492,869 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Procore Technologies by 134.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,151,867 shares of the company's stock valued at $77,901,000 after purchasing an additional 660,726 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Procore Technologies by 25.6% during the 1st quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company's stock valued at $145,954,000 after purchasing an additional 451,238 shares during the last quarter. Nuveen LLC bought a new position in shares of Procore Technologies during the first quarter valued at approximately $26,224,000. Finally, Durable Capital Partners LP grew its stake in shares of Procore Technologies by 83.3% during the first quarter. Durable Capital Partners LP now owns 825,120 shares of the company's stock valued at $54,474,000 after buying an additional 375,020 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

PCOR has been the subject of a number of research reports. Robert W. Baird boosted their price target on Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Stifel Nicolaus upped their price target on Procore Technologies from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Arete began coverage on Procore Technologies in a research report on Monday, June 16th. They set a "buy" rating and a $91.00 price target on the stock. KeyCorp upped 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. Finally, JMP Securities reissued a "market perform" rating and issued a $95.00 target price on shares of Procore Technologies in a research report on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Procore Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $83.06.

Procore Technologies Trading Up 1.2%

Shares of Procore Technologies stock opened at $71.76 on Friday. The firm has a market capitalization of $10.78 billion, a PE ratio of -74.74 and a beta of 0.90. Procore Technologies, Inc. has a twelve month low of $53.71 and a twelve month high of $88.92. The firm's 50-day moving average price is $69.00 and its 200 day moving average price is $67.65. 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 results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $323.92 million for the quarter, compared to analyst estimates 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 company posted $0.39 EPS. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, insider Benjamin C. Singer sold 1,036 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $75.00, for a total transaction of $77,700.00. Following the completion of the sale, the insider owned 85,330 shares in the company, valued at $6,399,750. This trade represents a 1.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Fu sold 796 shares of the firm'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 transaction of $56,531.92. Following the sale, the chief financial officer owned 188,661 shares of the company's stock, valued at $13,398,704.22. This represents a 0.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,649 shares of company stock worth $3,164,856. 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.

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