MQS Management LLC Takes $202,000 Position in Procore Technologies, Inc. $PCOR

MQS Management LLC acquired a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,948 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds also recently made changes to their positions in PCOR. Brighton Jones LLC bought a new stake in shares of Procore Technologies in the fourth quarter worth $511,000. GAMMA Investing LLC increased its stake 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 buying an additional 497 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Procore Technologies by 8.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,702 shares of the company’s stock worth $508,000 after buying an additional 613 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Procore Technologies by 56.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 26,099 shares of the company’s stock worth $1,723,000 after buying an additional 9,368 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Procore Technologies in the first quarter worth $237,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PCOR shares. Piper Sandler restated an “overweight” rating and issued a $82.00 price target on shares of Procore Technologies in a research note on Tuesday, October 14th. Barclays lifted their price target on shares of Procore Technologies from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Robert W. Baird lifted their price target on shares of Procore Technologies from $83.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Citizens Jmp downgraded shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 1st. Fifteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.11.

Insider Activity

In other news, insider Benjamin C. Singer sold 4,205 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $63.67, for a total transaction of $267,732.35. Following the completion of the transaction, the insider owned 86,366 shares of the company’s stock, valued at approximately $5,498,923.22. The trade was a 4.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 7,692 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $66.28, for a total transaction of $509,825.76. Following the completion of the sale, the director directly owned 1,146,405 shares of the company’s stock, valued at $75,983,723.40. The trade was a 0.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 30,724 shares of company stock valued at $2,122,519. 21.50% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

Shares of PCOR opened at $74.20 on Wednesday. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92. The company has a market cap of $11.14 billion, a price-to-earnings ratio of -77.29 and a beta of 0.90. 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 firm has a fifty day moving average of $71.08 and a 200-day moving average of $68.61.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The firm had revenue of $172.21 million for the quarter. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share 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.