1,109,382 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC purchased a new position in Procore Technologies, Inc. (NYSE:PCOR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,109,382 shares of the company’s stock, valued at approximately $91,158,000. William Blair Investment Management LLC owned 0.76% of Procore Technologies at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ellsworth Advisors LLC boosted its stake in Procore Technologies by 3.0% in the 4th quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock worth $408,000 after purchasing an additional 170 shares during the period. Fifth Third Bancorp boosted its position in shares of Procore Technologies by 3.8% during the 1st quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock valued at $589,000 after acquiring an additional 263 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after acquiring an additional 297 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Procore Technologies by 5.7% during the 4th quarter. Venturi Wealth Management LLC now owns 7,557 shares of the company’s stock valued at $523,000 after acquiring an additional 408 shares during the last quarter. Finally, Richelieu Gestion SA boosted its position in shares of Procore Technologies by 1.6% during the 1st quarter. Richelieu Gestion SA now owns 26,001 shares of the company’s stock valued at $2,137,000 after acquiring an additional 408 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Trading Down 1.6 %

PCOR stock traded down $1.12 during midday trading on Wednesday, reaching $70.59. The company’s stock had a trading volume of 2,319,804 shares, compared to its average volume of 1,336,377. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a fifty day simple moving average of $66.87 and a two-hundred day simple moving average of $71.37. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of -74.74 and a beta of 0.75.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The business had revenue of $269.43 million for the quarter, compared to analyst estimates of $263.13 million. On average, equities research analysts predict that Procore Technologies, Inc. will post -0.35 EPS for the current year.

Insider Activity

In other news, CFO Howard Fu sold 1,441 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total transaction of $102,339.82. Following the transaction, the chief financial officer now owns 192,178 shares in the company, valued at $13,648,481.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Benjamin C. Singer sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.05, for a total transaction of $207,150.00. Following the transaction, the insider now owns 122,321 shares in the company, valued at $8,446,265.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Howard Fu sold 1,441 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $71.02, for a total value of $102,339.82. Following the transaction, the chief financial officer now owns 192,178 shares in the company, valued at approximately $13,648,481.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,554 shares of company stock worth $20,236,420. Company insiders own 29.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PCOR. Macquarie began coverage on Procore Technologies in a research report on Wednesday, June 5th. They set a “neutral” rating and a $70.00 target price for the company. JPMorgan Chase & Co. increased their target price on Procore Technologies from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Mizuho reiterated a “neutral” rating and set a $70.00 target price (down from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th. TD Cowen started coverage on Procore Technologies in a research report on Wednesday, June 12th. They set a “buy” rating and a $85.00 target price for the company. Finally, Stifel Nicolaus lowered their price target on Procore Technologies from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

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.