MQS Management LLC Buys New Shares in Procore Technologies, Inc. (NYSE:PCOR)

MQS Management LLC purchased a new position in Procore Technologies, Inc. (NYSE:PCOR) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 5,341 shares of the company’s stock, valued at approximately $354,000.

Several other institutional investors have also added to or reduced their stakes in PCOR. Tanager Wealth Management LLP increased its holdings in shares of Procore Technologies by 1.2% in the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after buying an additional 150 shares during the period. Taylor Frigon Capital Management LLC grew its position in Procore Technologies by 0.3% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after acquiring an additional 180 shares during the last quarter. Signaturefd LLC increased its stake in Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the period. Advisors Asset Management Inc. lifted its position in Procore Technologies by 26.2% in the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after purchasing an additional 260 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after purchasing an additional 297 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $65.59, for a total transaction of $4,460,120.00. Following the sale, the chief executive officer now directly owns 527,349 shares in the company, valued at approximately $34,588,820.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $65.59, for a total value of $4,460,120.00. Following the completion of the transaction, the chief executive officer now owns 527,349 shares of the company’s stock, valued at approximately $34,588,820.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $160,091.98. Following the sale, the senior vice president now directly owns 79,156 shares in the company, valued at approximately $4,681,285.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,688 shares of company stock worth $11,111,941. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Price Performance

Shares of PCOR stock opened at $60.02 on Friday. 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 business’s fifty day moving average is $60.72 and its 200 day moving average is $67.62. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of -62.52 and a beta of 0.73. Procore Technologies, Inc. has a twelve month low of $48.11 and a twelve month high of $83.35.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Mizuho reaffirmed a “neutral” rating and issued a $70.00 target price (down from $75.00) on shares of Procore Technologies in a research note on Tuesday, June 4th. KeyCorp decreased their price objective on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Barclays lowered shares of Procore Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $78.00 to $54.00 in a report on Friday, August 2nd. JMP Securities reduced their price target on Procore Technologies from $93.00 to $82.00 and set a “market outperform” rating on the stock in a report on Friday, August 2nd. Finally, BMO Capital Markets lowered their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.31.

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.