Alua Capital Management LP Takes Position in Procore Technologies, Inc. $PCOR

Alua Capital Management LP acquired a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the 3rd quarter, HoldingsChannel reports. The firm acquired 522,580 shares of the company’s stock, valued at approximately $38,107,000. Procore Technologies accounts for about 2.6% of Alua Capital Management LP’s portfolio, making the stock its 15th biggest position.

A number of other institutional investors also recently bought and sold shares of PCOR. Principal Financial Group Inc. increased its holdings in shares of Procore Technologies by 12.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,301,569 shares of the company’s stock worth $240,753,000 after buying an additional 360,207 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Procore Technologies in the third quarter valued at approximately $1,442,000. Envestnet Asset Management Inc. lifted its holdings in Procore Technologies by 31.2% in the third quarter. Envestnet Asset Management Inc. now owns 419,735 shares of the company’s stock valued at $30,607,000 after acquiring an additional 99,706 shares during the last quarter. Federated Hermes Inc. grew its position in Procore Technologies by 17.0% in the second quarter. Federated Hermes Inc. now owns 304,219 shares of the company’s stock worth $20,815,000 after acquiring an additional 44,105 shares during the period. Finally, Stephens Investment Management Group LLC grew its position in Procore Technologies by 19.6% in the third 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 period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Stock Up 0.2%

Shares of NYSE PCOR opened at $57.13 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $59.45 and its two-hundred day moving average is $68.33. Procore Technologies, Inc. has a 52-week low of $46.08 and a 52-week high of $82.32. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of -85.27 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The business had revenue of $349.11 million during the quarter, compared to analyst estimates of $340.80 million. During the same period last year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Ratings Changes

PCOR has been the topic of a number of research analyst reports. BTIG Research restated a “buy” rating and issued a $66.00 target price on shares of Procore Technologies in a research report on Wednesday. TD Cowen increased their price target on Procore Technologies from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Barclays cut their price objective on Procore Technologies from $90.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. The Goldman Sachs Group reduced their price objective on shares of Procore Technologies from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Finally, Zacks Research cut shares of Procore Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.05.

Insider Activity

In other Procore Technologies news, Director William J.G. Griffith sold 207,474 shares of Procore Technologies stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $72.30, for a total value of $15,000,370.20. Following the completion of the transaction, the director directly owned 3,244,546 shares of the company’s stock, valued at $234,580,675.80. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Connor Kevin J. O sold 9,615 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $54.48, for a total transaction of $523,825.20. Following the sale, the director owned 1,012,136 shares in the company, valued at $55,141,169.28. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 377,911 shares of company stock worth $25,881,654 in the last quarter. Insiders own 21.50% 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. 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.