Procore Technologies, Inc. (NYSE:PCOR) Shares Acquired by Washington Harbour Partners LP

Washington Harbour Partners LP increased its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 63.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,900 shares of the company’s stock after purchasing an additional 9,700 shares during the period. Procore Technologies accounts for approximately 3.3% of Washington Harbour Partners LP’s investment portfolio, making the stock its 15th biggest position. Washington Harbour Partners LP’s holdings in Procore Technologies were worth $2,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCOR. International Assets Investment Management LLC lifted its position in shares of Procore Technologies by 6,823.1% in the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after acquiring an additional 887 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Procore Technologies during the fourth quarter worth $62,000. Advisors Asset Management Inc. raised its position in shares of 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 buying an additional 260 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of 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 in the last quarter. Finally, Covestor Ltd boosted its position in Procore Technologies by 29.3% during the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock worth $109,000 after acquiring an additional 300 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Trading Down 5.4 %

PCOR traded down $3.81 during mid-day trading on Thursday, hitting $67.22. 2,247,705 shares of the stock were exchanged, compared to its average volume of 1,343,098. The firm’s fifty day moving average is $66.94 and its two-hundred day moving average is $71.46. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35. The company has a market cap of $9.84 billion, a PE ratio of -70.02 and a beta of 0.75. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.15. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The business had revenue of $269.43 million for the quarter, compared to analysts’ expectations of $263.13 million. Equities analysts forecast that Procore Technologies, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of research reports. Canaccord Genuity Group decreased their target price on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barclays reduced their price objective on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. 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. JPMorgan Chase & Co. lifted their price target on Procore Technologies from $86.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. Finally, Macquarie reissued a “neutral” rating and issued a $70.00 price objective on shares of Procore Technologies in a report on Tuesday. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Insider Buying and Selling

In other news, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $70.29, for a total value of $360,447.12. Following the sale, the director now directly owns 1,489,183 shares in the company, valued at $104,674,673.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,483 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total transaction of $1,577,632.11. Following the completion of the transaction, the chief executive officer now owns 866,718 shares in the company, valued at approximately $60,817,602.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $70.29, for a total transaction of $360,447.12. Following the completion of the sale, the director now directly owns 1,489,183 shares in the company, valued at $104,674,673.07. The disclosure for this sale can be found here. Insiders have sold a total of 238,511 shares of company stock valued at $16,024,349 in the last ninety days. Company insiders own 29.00% of the company’s stock.

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.