Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by RGM Capital LLC

RGM Capital LLC increased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 94.0% in the third quarter, HoldingsChannel.com reports. The firm owned 1,293,467 shares of the company’s stock after acquiring an additional 626,861 shares during the quarter. Procore Technologies accounts for 3.5% of RGM Capital LLC’s portfolio, making the stock its 15th largest position. RGM Capital LLC’s holdings in Procore Technologies were worth $79,833,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PCOR. GAMMA Investing LLC increased its position in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Procore Technologies in the third quarter valued at approximately $26,000. Signaturefd LLC increased its stake in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the period. Rothschild Investment LLC acquired a new position in shares of Procore Technologies in the second quarter worth about $51,000. Finally, International Assets Investment Management LLC raised its position in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Activity at Procore Technologies

In related news, insider Steven Scott Davis sold 9,671 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $65.00, for a total transaction of $628,615.00. Following the transaction, the insider now directly owns 192,137 shares in the company, valued at approximately $12,488,905. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total value of $521,030.44. Following the sale, the director now owns 1,371,104 shares in the company, valued at $79,606,298.24. The trade was a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,053 shares of company stock worth $7,426,909 over the last ninety days. Insiders own 29.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PCOR shares. Macquarie reaffirmed a “neutral” rating and set a $70.00 target price on shares of Procore Technologies in a report on Tuesday, July 30th. Canaccord Genuity Group raised their price objective on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. DA Davidson upped their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. KeyCorp raised their price objective on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, JMP Securities decreased their target price on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Procore Technologies Stock Performance

Shares of NYSE:PCOR traded up $0.13 on Wednesday, reaching $80.39. 84,905 shares of the company’s stock were exchanged, compared to its average volume of 1,601,631. The company has a fifty day moving average of $64.64 and a 200-day moving average of $64.00. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $83.35. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of -160.56 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, research analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

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.