Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by EPIQ Capital Group LLC

EPIQ Capital Group LLC lifted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 159.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,470 shares of the company’s stock after purchasing an additional 8,269 shares during the quarter. Procore Technologies comprises about 0.3% of EPIQ Capital Group LLC’s investment portfolio, making the stock its 29th largest position. EPIQ Capital Group LLC’s holdings in Procore Technologies were worth $893,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Meritage Group LP purchased a new stake in Procore Technologies during the first quarter worth $106,738,000. William Blair Investment Management LLC acquired a new stake in Procore Technologies in the 1st quarter valued at about $91,158,000. Norges Bank purchased a new position in Procore Technologies during the 4th quarter valued at about $68,005,000. Robeco Schweiz AG acquired a new position in Procore Technologies during the fourth quarter worth about $60,914,000. Finally, Westfield Capital Management Co. LP acquired a new position in Procore Technologies during the fourth quarter worth about $60,295,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PCOR. Piper Sandler dropped their price objective on shares of Procore Technologies from $74.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Scotiabank reduced their price objective on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. JMP Securities dropped their price objective on Procore Technologies from $93.00 to $82.00 and set a “market outperform” rating for the company in a research report on Friday, August 2nd. TD Cowen started coverage on shares of Procore Technologies in a report on Wednesday, June 12th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, DA Davidson downgraded shares of Procore Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $90.00 to $60.00 in a report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.31.

Insider Activity at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,993 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $1,359,806.02. Following the completion of the sale, the chief executive officer now directly owns 793,123 shares in the company, valued at $46,905,294.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,993 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $1,359,806.02. Following the transaction, the chief executive officer now owns 793,123 shares in the company, valued at $46,905,294.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Connor Kevin J. O sold 3,846 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total value of $206,337.90. Following the completion of the sale, the director now owns 1,444,313 shares of the company’s stock, valued at approximately $77,487,392.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,586 shares of company stock worth $10,291,025. Company insiders own 29.00% of the company’s stock.

Procore Technologies Trading Up 0.2 %

PCOR stock opened at $58.13 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03. The company has a market cap of $8.58 billion, a price-to-earnings ratio of -60.55 and a beta of 0.73. The business has a fifty day simple moving average of $61.01 and a 200-day simple moving average of $67.85. Procore Technologies, Inc. has a 52 week low of $48.11 and a 52 week high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The firm had revenue of $284.30 million during the quarter, compared to the consensus estimate of $275.26 million. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.28) earnings per share. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.28 EPS for the current year.

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.