Acadian Asset Management LLC Sells 674,164 Shares of Procore Technologies, Inc. $PCOR

Acadian Asset Management LLC trimmed its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 88.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,080 shares of the company’s stock after selling 674,164 shares during the quarter. Acadian Asset Management LLC owned about 0.06% of Procore Technologies worth $5,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC acquired a new stake in Procore Technologies in the 4th quarter worth about $511,000. BNP Paribas Financial Markets acquired a new stake in Procore Technologies in the 4th quarter worth about $1,058,000. Captrust Financial Advisors bought a new stake in Procore Technologies during the fourth quarter worth about $224,000. Cetera Investment Advisers lifted its position in Procore Technologies by 497.0% during the fourth quarter. Cetera Investment Advisers now owns 34,871 shares of the company’s stock worth $2,613,000 after purchasing an additional 29,030 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Procore Technologies by 45.1% during the fourth quarter. Lazard Asset Management LLC now owns 15,141 shares of the company’s stock worth $1,134,000 after purchasing an additional 4,704 shares during the period. 81.10% of the stock is owned by institutional investors.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,035 shares of the business’s stock in a transaction that occurred on 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 sale, the director owned 1,154,097 shares in the company, valued at $83,510,458.92. The trade was a 0.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Benjamin C. Singer sold 4,500 shares of the business’s stock in a transaction that occurred on 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 sale, the insider 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 90 days, insiders sold 43,613 shares of company stock valued at $3,028,247. 21.50% of the stock is owned by corporate insiders.

Procore Technologies Trading Down 1.3%

Shares of Procore Technologies stock opened at $69.67 on Friday. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92. The firm has a market cap of $10.46 billion, a PE ratio of -72.57 and a beta of 0.90. The stock has a fifty day moving average price of $69.16 and a 200-day moving average price of $67.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29.

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

Analysts Set New Price Targets

PCOR has been the subject of a number of research reports. Arete initiated coverage on shares of Procore Technologies in a report on Monday, June 16th. They issued a “buy” rating and a $91.00 target price for the company. JMP Securities reissued a “market perform” rating and issued a $95.00 target price on shares of Procore Technologies in a report on Friday, August 1st. KeyCorp upped their price objective on Procore Technologies from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. DA Davidson assumed coverage on Procore Technologies in a research note on Monday, August 4th. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, Robert W. Baird upped their price objective on Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. One 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.06.

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.