George Kaiser Family Foundation Invests $2.60 Million in Procore Technologies, Inc. $PCOR

George Kaiser Family Foundation acquired a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) during the second quarter, HoldingsChannel reports. The fund acquired 64,062 shares of the company’s stock, valued at approximately $2,602,000. Procore Technologies makes up approximately 0.2% of George Kaiser Family Foundation’s holdings, making the stock its 14th largest holding.

Other hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. increased its holdings in Procore Technologies by 7,100.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock worth $25,000 after acquiring an additional 426 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Procore Technologies during the third quarter valued at approximately $34,000. Allworth Financial LP boosted its position in shares of Procore Technologies by 48.2% in the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after purchasing an additional 204 shares during the period. Global Retirement Partners LLC bought a new position in shares of Procore Technologies in the second quarter worth approximately $52,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of Procore Technologies in the fourth quarter worth $54,000. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Stock Performance

PCOR stock opened at $63.30 on Friday. The company’s fifty day moving average price is $48.18 and its 200-day moving average price is $51.18. Procore Technologies, Inc. has a one year low of $38.03 and a one year high of $82.32. The company has a market capitalization of $9.62 billion, a PE ratio of -243.46 and a beta of 0.70.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $375.21 million during the quarter, compared to analysts’ expectations of $365.82 million. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. Procore Technologies’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. On average, research analysts predict that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Elisa Steele sold 1,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $63.00, for a total transaction of $94,500.00. Following the completion of the transaction, the director owned 58,371 shares of the company’s stock, valued at $3,677,373. This represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William Fred Fleming, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $58.95, for a total value of $589,500.00. Following the transaction, the senior vice president owned 104,981 shares of the company’s stock, valued at approximately $6,188,629.95. The trade was a 8.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 224,199 shares of company stock worth $11,083,445 in the last quarter. 16.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Procore Technologies in a research report on Monday, July 6th. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target for the company in a research note on Wednesday, April 29th. Wall Street Zen cut Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. BMO Capital Markets boosted their price objective on Procore Technologies from $56.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group dropped their price objective on Procore Technologies from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.44.

About Procore Technologies

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.