Temasek Holdings Private Ltd Takes $4.85 Million Position in Procore Technologies, Inc. $PCOR

Temasek Holdings Private Ltd purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 66,627 shares of the company’s stock, valued at approximately $4,846,000.

Other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Procore Technologies in the third quarter valued at about $34,000. Jones Financial Companies Lllp lifted its holdings in shares of Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after purchasing an additional 199 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies in the fourth quarter valued at about $41,000. Allworth Financial LP lifted its holdings in shares of Procore Technologies by 48.2% in the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after purchasing an additional 204 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new stake in shares of Procore Technologies in the fourth quarter valued at about $54,000. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $42.40 on Tuesday. The business’s 50 day moving average price is $50.67 and its two-hundred day moving average price is $59.15. The company has a market cap of $6.40 billion, a PE ratio of -83.13 and a beta of 0.73. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a twelve month low of $40.74 and a twelve month high of $82.32.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $359.28 million for the quarter, compared to analyst estimates of $352.82 million. Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.Procore Technologies’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. On average, analysts predict that Procore Technologies, Inc. will post 0.06 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Citizens Jmp raised Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price on the stock in a research report on Wednesday, April 29th. UBS Group lowered their target price on Procore Technologies from $74.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Zacks Research raised Procore Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, TD Cowen lowered their target price on Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 5,769 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $51.07, for a total transaction of $294,622.83. Following the transaction, the director owned 990,983 shares of the company’s stock, valued at $50,609,501.81. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Benjamin C. Singer sold 3,942 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $50.00, for a total value of $197,100.00. Following the transaction, the insider directly owned 96,723 shares in the company, valued at approximately $4,836,150. This trade represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 178,077 shares of company stock valued at $8,564,311 over the last 90 days. 16.80% of the stock is currently owned by insiders.

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.