Strs Ohio Has $200,000 Position in Procore Technologies, Inc. $PCOR

Strs Ohio trimmed its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 84.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,740 shares of the company’s stock after selling 14,879 shares during the quarter. Strs Ohio’s holdings in Procore Technologies were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PCOR. US Bancorp DE increased its stake in Procore Technologies by 5.5% during the 2nd quarter. US Bancorp DE now owns 21,638 shares of the company’s stock valued at $1,480,000 after purchasing an additional 1,131 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Procore Technologies during the third quarter valued at about $1,442,000. Federated Hermes Inc. grew its holdings in shares of Procore Technologies by 17.0% during the second quarter. Federated Hermes Inc. now owns 304,219 shares of the company’s stock valued at $20,815,000 after buying an additional 44,105 shares during the last quarter. Cooper Investors PTY Ltd. increased its position in shares of Procore Technologies by 29.7% during the third quarter. Cooper Investors PTY Ltd. now owns 95,315 shares of the company’s stock worth $6,950,000 after acquiring an additional 21,802 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Procore Technologies by 19.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 365,149 shares of the company’s stock worth $26,627,000 after acquiring an additional 59,923 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In related news, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of Procore Technologies stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $72.70, for a total value of $5,452,500.00. Following the sale, the chairman owned 1,155,480 shares of the company’s stock, valued at approximately $84,003,396. The trade was a 6.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 7,692 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $64.31, for a total value of $494,672.52. Following the completion of the transaction, the director owned 1,035,212 shares in the company, valued at approximately $66,574,483.72. The trade was a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 690,703 shares of company stock valued at $50,266,998 in the last three months. 21.50% of the stock is owned by corporate insiders.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $56.57 on Tuesday. The business’s fifty day simple moving average is $71.53 and its 200 day simple moving average is $71.25. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 12 month low of $53.71 and a 12 month high of $88.92. The firm has a market capitalization of $8.79 billion, a P/E ratio of -67.34 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The firm had revenue of $338.85 million during the quarter, compared to the consensus estimate of $328.13 million. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of analyst reports. DA Davidson upgraded Procore Technologies to a “hold” rating in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. Piper Sandler lifted their target price on Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. KeyCorp upped their price target on Procore Technologies from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, Barclays upgraded Procore Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $82.00 to $90.00 in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $85.11.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.