Makena Capital Management LLC Sells 48,295 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Makena Capital Management LLC lowered its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 18.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,899 shares of the company’s stock after selling 48,295 shares during the quarter. Procore Technologies comprises 3.2% of Makena Capital Management LLC’s holdings, making the stock its 8th biggest position. Makena Capital Management LLC’s holdings in Procore Technologies were worth $13,387,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Procore Technologies during the 3rd quarter worth approximately $26,000. Signaturefd LLC increased its holdings in shares of Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Procore Technologies in the second quarter valued at approximately $51,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares during the period. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In related news, insider Steven Scott Davis sold 9,671 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $65.00, for a total value of $628,615.00. Following the sale, the insider now directly owns 192,137 shares in the company, valued at $12,488,905. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 8,974 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total transaction of $521,030.44. Following the transaction, the director now owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. The trade was a 0.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,997 shares of company stock worth $4,497,153. 29.00% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

NYSE PCOR opened at $70.26 on Thursday. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The business’s fifty day moving average is $63.46 and its 200 day moving average is $63.84.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Equities analysts predict that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. TD Cowen boosted their price target on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Baird R W upgraded shares of Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Stifel Nicolaus dropped their target price on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group cut their price target on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.25.

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.