Xponance Inc. Has $933,000 Position in Procore Technologies, Inc. (NYSE:PCOR)

Xponance Inc. raised its stake in Procore Technologies, Inc. (NYSE:PCOR) by 33.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,067 shares of the company’s stock after buying an additional 3,545 shares during the quarter. Xponance Inc.’s holdings in Procore Technologies were worth $933,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tanager Wealth Management LLP increased its stake 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 acquiring an additional 150 shares during the last quarter. Taylor Frigon Capital Management LLC raised its stake in shares of 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 purchasing an additional 180 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after buying an additional 216 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Procore Technologies by 26.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after buying an additional 260 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PCOR shares. Macquarie reissued a “neutral” rating and issued a $70.00 target price on shares of Procore Technologies in a research report on Tuesday, July 30th. Mizuho restated a “neutral” rating and set a $70.00 target price (down from $75.00) on shares of Procore Technologies in a report on Tuesday, June 4th. Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. DA Davidson downgraded Procore Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $90.00 to $60.00 in a research note on Friday, August 2nd. Finally, Scotiabank decreased their target price on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.50.

Procore Technologies Stock Up 0.7 %

Shares of PCOR opened at $62.05 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. The company has a 50-day simple moving average of $59.62 and a 200-day simple moving average of $66.75. Procore Technologies, Inc. has a 52 week low of $48.11 and a 52 week high of $83.35. The firm has a market capitalization of $9.16 billion, a P/E ratio of -64.63 and a beta of 0.73.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. The company 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 company’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.28) EPS. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.28 earnings per share for the current year.

Insider Buying and Selling at Procore Technologies

In other news, insider Benjamin C. Singer sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $66.13, for a total transaction of $132,260.00. Following the completion of the transaction, the insider now directly owns 108,705 shares of the company’s stock, valued at approximately $7,188,661.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the chief executive officer now directly owns 527,349 shares in the company, valued at $34,588,820.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 2,000 shares of Procore Technologies stock in a transaction on Monday, July 1st. The shares were sold at an average price of $66.13, for a total value of $132,260.00. Following the transaction, the insider now directly owns 108,705 shares of the company’s stock, valued at $7,188,661.65. The disclosure for this sale can be found here. Insiders have sold 169,890 shares of company stock valued at $10,540,071 in the last 90 days. 29.00% of the stock is currently 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.