Procore Technologies, Inc. $PCOR Stock Purchased by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 7.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 136,848 shares of the company’s stock after buying an additional 9,087 shares during the quarter. Marble Harbor Investment Counsel LLC owned about 0.09% of Procore Technologies worth $7,078,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PCOR. BlackRock Inc. acquired a new stake in shares of Procore Technologies in the second quarter valued at approximately $300,345,000. Assenagon Asset Management S.A. grew its position in shares of Procore Technologies by 0.7% during the third quarter. Assenagon Asset Management S.A. now owns 4,430,657 shares of the company’s stock worth $229,154,000 after acquiring an additional 32,494 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Procore Technologies by 8.2% in the 2nd quarter. Wellington Management Group LLP now owns 3,450,671 shares of the company’s stock valued at $140,166,000 after acquiring an additional 260,314 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Procore Technologies by 158.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,020,531 shares of the company’s stock valued at $115,170,000 after acquiring an additional 1,240,247 shares during the period. Finally, Deutsche Bank AG purchased a new stake in Procore Technologies in the 2nd quarter valued at $114,444,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Stock Down 0.3%

Shares of NYSE PCOR opened at $77.28 on Friday. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of -336.00 and a beta of 0.75. Procore Technologies, Inc. has a 52 week low of $38.03 and a 52 week high of $79.80. The firm has a 50-day moving average price of $58.74 and a 200 day moving average price of $53.74. The company has a quick ratio of 1.17, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Tuesday, November 3rd. The company reported $0.51 earnings per share 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 analyst estimates of $384.38 million. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts anticipate that Procore Technologies, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PCOR. UBS Group increased their price target on shares of Procore Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Citizens Jmp lifted their price objective on shares of Procore Technologies from $77.00 to $91.00 and gave the company a “market outperform” rating in a research note on Thursday, November 5th. TD Cowen upped their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Jefferies Financial Group decreased their target price on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Finally, BMO Capital Markets raised their price target on Procore Technologies from $56.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Eighteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.35.

Insider Buying and Selling at Procore Technologies

In related news, Director Elisa Steele sold 3,337 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $69.10, for a total value of $230,586.70. Following the sale, the director owned 55,034 shares in the company, valued at $3,802,849.40. This represents a 5.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Benjamin Singer sold 2,586 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $75.00, for a total value of $193,950.00. Following the completion of the sale, the insider owned 84,345 shares in the company, valued at approximately $6,325,875. This represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 163,538 shares of company stock worth $9,522,185. Corporate insiders own 16.80% of the company’s stock.

Procore Technologies Company 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.