Procore Technologies, Inc. $PCOR Stock Position Raised by George Kaiser Family Foundation

George Kaiser Family Foundation grew its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 124.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,065 shares of the company’s stock after buying an additional 28,897 shares during the quarter. Procore Technologies makes up about 0.5% of George Kaiser Family Foundation’s investment portfolio, making the stock its 12th largest holding. George Kaiser Family Foundation’s holdings in Procore Technologies were worth $3,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its stake in Procore Technologies by 465.2% in the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after acquiring an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Procore Technologies during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp raised its holdings in shares of Procore Technologies by 70.8% during the 3rd 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. First Horizon Corp acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at $49,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Procore Technologies in the third quarter worth $57,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In other news, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $72.70, for a total transaction of $5,452,500.00. Following the transaction, the chairman owned 1,155,480 shares in the company, valued at approximately $84,003,396. The trade was a 6.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Benjamin C. Singer sold 4,225 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total transaction of $211,250.00. Following the completion of the sale, the insider owned 64,660 shares of the company’s stock, valued at approximately $3,233,000. The trade was a 6.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 314,098 shares of company stock worth $22,229,482. 21.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group cut their target price on Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Zacks Research downgraded Procore Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Canaccord Genuity Group reduced their target price on Procore Technologies from $90.00 to $72.00 and set a “buy” rating for the company in a report on Friday, February 13th. BTIG Research decreased their target price on Procore Technologies from $88.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Piper Sandler dropped their price target on shares of Procore Technologies from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and an average target price of $76.95.

Procore Technologies Stock Performance

PCOR opened at $57.90 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $61.61 and its two-hundred day moving average price is $68.72. The firm has a market capitalization of $8.69 billion, a P/E ratio of -86.42 and a beta of 0.90. Procore Technologies, Inc. has a 12-month low of $46.08 and a 12-month high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $349.11 million during the quarter, compared to analyst estimates of $340.80 million. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 earnings per share. On average, equities analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

About Procore Technologies

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.