Vident Advisory LLC Purchases Shares of 3,804 Procore Technologies, Inc. $PCOR

Key Points

• Vident Advisory LLC purchased 3,804 shares of Procore Technologies valued at approximately $251,000, indicating increased institutional interest in the company.
• Analyst ratings for Procore Technologies featured mixed reviews, with Barclays raising its target price to $82.00 while other analysts maintained or adjusted their ratings, resulting in an average target price of $83.06.
• Recent company performance shows Procore reporting a 13.9% increase in revenue year-over-year alongside a quarterly EPS of $0.35, surpassing analysts' expectations.

Vident Advisory LLC purchased a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,804 shares of the company's stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew 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 acquiring an additional 385 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Procore Technologies in the first quarter worth approximately $49,000. Versant Capital Management Inc grew its holdings in shares of Procore Technologies by 174.2% in the first quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock worth $66,000 after purchasing an additional 636 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Procore Technologies by 53.4% in the first quarter. Signaturefd LLC now owns 1,203 shares of the company's stock worth $79,000 after purchasing an additional 419 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Procore Technologies by 66.6% in the first quarter. GAMMA Investing LLC now owns 1,243 shares of the company's stock worth $82,000 after purchasing an additional 497 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCOR has been the topic of several recent analyst reports. Barclays raised their target price 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 restated a "market perform" rating and issued a $95.00 target price on shares of Procore Technologies in a report on Friday, August 1st. Citizens Jmp cut shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. Robert W. Baird raised their target price on shares of Procore Technologies from $83.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Arete started coverage on Procore Technologies in a report on Monday, June 16th. They set a "buy" rating and a $91.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.06.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $70.02 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $10.52 billion, a P/E ratio of -72.94 and a beta of 0.90. The business has a fifty day simple moving average of $69.28 and a two-hundred day simple moving average of $67.75. Procore Technologies, Inc. has a 12 month low of $52.78 and a 12 month high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $323.92 million during the quarter, compared to analyst estimates of $311.91 million. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The company's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In related news, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $64.76, for a total value of $12,485,922.28. Following the transaction, the insider owned 3,137,255 shares in the company, valued at $203,168,633.80. The trade was a 5.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Lawrence Joseph Stack sold 2,500 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $65.33, for a total transaction of $163,325.00. Following the sale, the executive directly owned 208,288 shares in the company, valued at $13,607,455.04. This trade represents a 1.19% 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 valued at $43,235,011. Company insiders own 21.50% of the company's stock.

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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