LPL Financial LLC Purchases 3,743 Shares of Procore Technologies, Inc. $PCOR

LPL Financial LLC grew its stake in Procore Technologies, Inc. (NYSE:PCOR) by 16.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,142 shares of the company’s stock after acquiring an additional 3,743 shares during the quarter. LPL Financial LLC’s holdings in Procore Technologies were worth $1,792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ancora Advisors LLC increased its holdings in shares of Procore Technologies by 10,625.0% in the 4th quarter. Ancora Advisors LLC now owns 858 shares of the company’s stock valued at $64,000 after acquiring an additional 850 shares during the period. Versant Capital Management Inc increased its holdings in shares of Procore Technologies by 174.2% in the 1st quarter. Versant Capital Management Inc now owns 1,001 shares of the company’s stock valued at $66,000 after acquiring an additional 636 shares during the period. GeoWealth Management LLC purchased a new position in shares of Procore Technologies in the 4th quarter valued at $78,000. Signaturefd LLC increased its holdings in shares of Procore Technologies by 53.4% in the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock valued at $79,000 after acquiring an additional 419 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Procore Technologies by 66.6% in the 1st quarter. GAMMA Investing LLC now owns 1,243 shares of the company’s stock valued at $82,000 after acquiring an additional 497 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of analyst reports. Scotiabank cut their price target on Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. DA Davidson assumed coverage on Procore Technologies in a research note on Monday, August 4th. They set a “neutral” rating and a $70.00 target price on the stock. Mizuho boosted their target price on Procore Technologies from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Piper Sandler boosted their target price on Procore Technologies from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Arete assumed coverage on Procore Technologies in a research note on Monday, June 16th. They set a “buy” rating and a $91.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $83.06.

Insiders Place Their Bets

In related news, Director Connor Kevin J. O sold 8,035 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $72.36, for a total value of $581,412.60. Following the completion of the transaction, the director owned 1,154,097 shares of the company’s stock, valued at approximately $83,510,458.92. This represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin C. Singer sold 4,500 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $75.00, for a total value of $337,500.00. Following the completion of the transaction, the insider directly owned 97,557 shares of the company’s stock, valued at $7,316,775. The trade was a 4.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 651,755 shares of company stock worth $42,406,565. 21.50% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $64.5650 on Thursday. The stock has a market cap of $9.70 billion, a PE ratio of -67.26 and a beta of 0.90. The business has a 50-day simple moving average of $68.87 and a 200-day simple moving average of $68.96. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 52-week low of $52.78 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $323.92 million during the quarter, compared to analysts’ expectations of $311.91 million. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts expect that Procore Technologies, Inc. will post -0.15 EPS 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.