Park Avenue Securities LLC Decreases Position in Procore Technologies, Inc. $PCOR

Park Avenue Securities LLC lowered its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 21.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,125 shares of the company’s stock after selling 2,809 shares during the period. Park Avenue Securities LLC’s holdings in Procore Technologies were worth $693,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PCOR. JPMorgan Chase & Co. increased its stake in shares of Procore Technologies by 84.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company’s stock worth $215,195,000 after purchasing an additional 1,492,869 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Procore Technologies by 134.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,151,867 shares of the company’s stock worth $77,901,000 after purchasing an additional 660,726 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Procore Technologies by 25.6% during the 1st quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company’s stock worth $145,954,000 after purchasing an additional 451,238 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Procore Technologies during the 1st quarter worth approximately $26,224,000. Finally, Durable Capital Partners LP increased its stake in shares of Procore Technologies by 83.3% during the 1st quarter. Durable Capital Partners LP now owns 825,120 shares of the company’s stock worth $54,474,000 after purchasing an additional 375,020 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In other news, CFO Howard Fu sold 796 shares of Procore Technologies stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $71.02, for a total transaction of $56,531.92. Following the completion of the sale, the chief financial officer directly owned 188,661 shares of the company’s stock, valued at approximately $13,398,704.22. The trade was a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benjamin C. Singer sold 1,036 shares of Procore Technologies stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $75.00, for a total transaction of $77,700.00. Following the sale, the insider directly owned 85,330 shares of the company’s stock, valued at $6,399,750. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,649 shares of company stock valued at $3,164,856. Insiders own 21.50% of the company’s stock.

Procore Technologies Stock Up 2.5%

Shares of NYSE:PCOR opened at $73.54 on Monday. The firm has a fifty day moving average price of $69.13 and a two-hundred day moving average price of $67.53. 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, Inc. has a one year low of $53.71 and a one year high of $88.92. The company has a market cap of $11.04 billion, a price-to-earnings ratio of -76.60 and a beta of 0.90.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PCOR. Mizuho lifted their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Robert W. Baird lifted their price objective on shares of Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. DA Davidson began coverage on shares of Procore Technologies in a research note on Monday, August 4th. They issued a “neutral” rating and a $70.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Arete began coverage on shares of Procore Technologies in a research note on Monday, June 16th. They issued a “buy” rating and a $91.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and an average target price of $83.06.

Procore Technologies 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.