Voya Investment Management LLC Has $29.80 Million Stake in Procore Technologies, Inc. $PCOR

Key Points

• Voya Investment Management LLC increased its stake in Procore Technologies by 3.0%, owning approximately 0.30% of the company, valued at $29.80 million.
• Several institutional investors significantly raised their holdings in Procore Technologies during the first quarter, with JPMorgan Chase & Co. increasing its stake by 84.5% to own over 3 million shares.
• Procore Technologies reported $0.35 earnings per share in its last quarterly earnings, exceeding analysts' expectations and showing a 13.9% increase in revenue year-over-year.

Voya Investment Management LLC grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 451,441 shares of the company's stock after purchasing an additional 12,963 shares during the period. Voya Investment Management LLC owned approximately 0.30% of Procore Technologies worth $29,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PCOR. JPMorgan Chase & Co. raised its holdings in shares of Procore Technologies by 84.5% during the first quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company's stock valued at $215,195,000 after purchasing an additional 1,492,869 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Procore Technologies by 134.5% during the first 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 period. Wellington Management Group LLP raised its holdings in shares of Procore Technologies by 25.6% during the first 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 period. Nuveen LLC acquired a new position in shares of Procore Technologies during the first quarter valued at about $26,224,000. Finally, Durable Capital Partners LP raised its holdings 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 purchasing an additional 375,020 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Insiders Place Their Bets

In other Procore Technologies news, CFO Howard Fu sold 797 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $63.85, for a total value of $50,888.45. Following the completion of the sale, the chief financial officer directly owned 189,457 shares of the company's stock, valued at approximately $12,096,829.45. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 4,205 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $63.67, for a total transaction of $267,732.35. Following the completion of the sale, the insider directly owned 86,366 shares of the company's stock, valued at $5,498,923.22. The trade was a 4.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,613 shares of company stock valued at $3,028,247. Corporate insiders own 21.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PCOR shares. JMP Securities reiterated a "market perform" rating and set a $95.00 price objective on shares of Procore Technologies in a report on Friday, August 1st. Robert W. Baird upped 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. Citizens Jmp lowered shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. Mizuho upped their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, Arete started coverage on shares of Procore Technologies in a report on Monday, June 16th. They issued a "buy" rating and a $91.00 target price on the stock. One investment 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's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.06.

Procore Technologies Trading Down 1.3%

Shares of PCOR stock opened at $69.67 on Friday. Procore Technologies, Inc. has a 52-week low of $53.71 and a 52-week high of $88.92. 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 company has a 50-day simple moving average of $69.16 and a two-hundred day simple moving average of $67.55. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of -72.57 and a beta of 0.90.

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

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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