George Kaiser Family Foundation Invests $2.60 Million in Procore Technologies, Inc. $PCOR

George Kaiser Family Foundation purchased a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 64,062 shares of the company’s stock, valued at approximately $2,602,000. Procore Technologies comprises approximately 0.2% of George Kaiser Family Foundation’s holdings, making the stock its 14th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Landscape Capital Management L.L.C. purchased a new position in Procore Technologies in the 2nd quarter worth approximately $687,000. Ieq Capital LLC purchased a new stake in Procore Technologies during the 2nd quarter valued at $1,397,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in Procore Technologies during the 2nd quarter valued at $1,051,000. Advisors Capital Management LLC bought a new stake in shares of Procore Technologies in the 2nd quarter worth $10,922,000. Finally, Vise Technologies Inc. bought a new stake in shares of Procore Technologies in the 2nd quarter worth $206,000. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In related news, Director Connor Kevin J. O sold 15,386 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $54.93, for a total transaction of $845,152.98. Following the completion of the sale, the director directly owned 946,746 shares in the company, valued at approximately $52,004,757.78. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William Fred Fleming, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $58.95, for a total transaction of $589,500.00. Following the sale, the senior vice president directly owned 104,981 shares of the company’s stock, valued at approximately $6,188,629.95. This represents a 8.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 224,199 shares of company stock worth $11,083,445. 16.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCOR. Jefferies Financial Group lowered their price target on Procore Technologies from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price objective for the company in a report on Wednesday, April 29th. BMO Capital Markets boosted their target price on Procore Technologies from $56.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. TD Cowen lowered their target price on shares of Procore Technologies from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group dropped their price target on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.44.

Procore Technologies Stock Performance

Procore Technologies stock opened at $63.30 on Friday. The stock has a market cap of $9.62 billion, a PE ratio of -243.46 and a beta of 0.70. Procore Technologies, Inc. has a one year low of $38.03 and a one year high of $82.32. The stock has a fifty day moving average of $48.18 and a 200 day moving average of $51.18.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The company had revenue of $375.21 million for the quarter, compared to the consensus estimate of $365.82 million. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.Procore Technologies’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, sell-side analysts predict that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal year.

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.