Voya Investment Management LLC Has $29.80 Million Stock Position 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 raised its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,441 shares of the company's stock after purchasing an additional 12,963 shares during the quarter. Voya Investment Management LLC owned approximately 0.30% of Procore Technologies worth $29,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock valued at $35,000 after purchasing an additional 385 shares in the last quarter. SVB Wealth LLC purchased a new position in Procore Technologies in the first quarter valued at about $49,000. Versant Capital Management Inc grew its stake in Procore Technologies by 174.2% in the first quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock valued at $66,000 after purchasing an additional 636 shares in the last quarter. Signaturefd LLC grew its stake in Procore Technologies by 53.4% in the first quarter. Signaturefd LLC now owns 1,203 shares of the company's stock valued at $79,000 after purchasing an additional 419 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Procore Technologies by 66.6% in the first quarter. GAMMA Investing LLC now owns 1,243 shares of the company's stock valued at $82,000 after purchasing an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Stock Performance

NYSE:PCOR traded down $0.20 during mid-day trading on Thursday, hitting $72.36. 580,894 shares of the company's stock traded hands, compared to its average volume of 1,453,957. The firm has a 50 day moving average of $69.12 and a two-hundred day moving average of $67.52. Procore Technologies, Inc. has a 12 month low of $53.71 and a 12 month high of $88.92. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of -75.46 and a beta of 0.90. 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 announced its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $323.92 million during the quarter, compared to the consensus estimate of $311.91 million. During the same quarter in the prior year, the company earned $0.39 EPS. The firm's revenue for the quarter 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. On average, equities analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of recent research reports. BMO Capital Markets boosted their target price on Procore Technologies from $75.00 to $82.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. JMP Securities reiterated a "market perform" rating and set a $95.00 price target on shares of Procore Technologies in a research note on Friday, August 1st. Barclays upped their price target on Procore Technologies from $72.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Mizuho upped their price target on Procore Technologies from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, KeyCorp upped their price target on Procore Technologies from $77.00 to $81.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.06.

Insider Activity at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 4,205 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $63.67, for a total value of $267,732.35. Following the completion of the transaction, the insider owned 86,366 shares of the company's stock, valued at $5,498,923.22. This represents a 4.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Connor Kevin J. O sold 7,692 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $66.28, for a total value of $509,825.76. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 35,921 shares of company stock worth $2,525,652 in the last 90 days. 21.50% of the stock is owned by company insiders.

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.