Marble Harbor Investment Counsel LLC Acquires 9,087 Shares of Procore Technologies, Inc. $PCOR

Marble Harbor Investment Counsel LLC boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 136,848 shares of the company’s stock after acquiring an additional 9,087 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Procore Technologies were worth $7,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PCOR. BlackRock Inc. purchased a new position in Procore Technologies during the 2nd quarter valued at about $300,345,000. Deutsche Bank AG purchased a new stake in shares of Procore Technologies in the second quarter valued at about $114,444,000. Assenagon Asset Management S.A. lifted its holdings in shares of Procore Technologies by 95.3% in the second quarter. Assenagon Asset Management S.A. now owns 4,398,163 shares of the company’s stock valued at $178,653,000 after purchasing an additional 2,146,182 shares in the last quarter. Bamco Inc. NY purchased a new stake in shares of Procore Technologies in the second quarter valued at about $62,116,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Procore Technologies by 158.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,020,531 shares of the company’s stock valued at $115,170,000 after purchasing an additional 1,240,247 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kevin O’Connor sold 7,692 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $53.50, for a total value of $411,522.00. Following the completion of the transaction, the director owned 915,978 shares of the company’s stock, valued at $49,004,823. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 16,852 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $76.57, for a total transaction of $1,290,357.64. Following the transaction, the senior vice president directly owned 91,049 shares in the company, valued at $6,971,621.93. The trade was a 15.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 163,538 shares of company stock valued at $9,522,185. 16.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PCOR shares. Citigroup reissued a “market outperform” rating on shares of Procore Technologies in a research note on Monday, October 26th. The Goldman Sachs Group upped their target price on Procore Technologies from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Guggenheim upped their target price on Procore Technologies from $68.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Zacks Research cut Procore Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, Mizuho set a $68.00 price target on Procore Technologies in a research report on Wednesday, November 4th. Eighteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.35.

Procore Technologies Trading Down 0.3%

Shares of PCOR stock opened at $77.28 on Friday. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of -336.00 and a beta of 0.75. The company has a current ratio of 1.06, a quick ratio of 1.17 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $58.74 and a 200 day moving average price of $53.74. Procore Technologies, Inc. has a twelve month low of $38.03 and a twelve month high of $79.80.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. Procore Technologies had a negative net margin of 2.31% and a positive return on equity of 2.67%. The company had revenue of $402.31 million for the quarter, compared to analysts’ expectations of $384.38 million. During the same period last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Research analysts forecast that Procore Technologies, Inc. will post 0.42 earnings per share for the current fiscal year.

Procore Technologies Profile

Procore Technologies provides cloud-based construction management software designed to help construction companies plan, manage and execute projects. Its platform connects project teams and stakeholders, including owners, general contractors, specialty contractors and design professionals. Procore’s products support project management, construction financials, workforce coordination, quality and safety processes, and project data and analytics. The platform also offers integrations with third-party applications to help customers connect construction workflows and business systems.