US Bancorp DE Increases Stock Holdings in Procore Technologies, Inc. $PCOR

US Bancorp DE raised its stake in Procore Technologies, Inc. (NYSE:PCOR) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,638 shares of the company’s stock after buying an additional 1,131 shares during the quarter. US Bancorp DE’s holdings in Procore Technologies were worth $1,480,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS lifted its position in Procore Technologies by 13.9% in the second quarter. KLP Kapitalforvaltning AS now owns 22,900 shares of the company’s stock valued at $1,567,000 after buying an additional 2,800 shares during the last quarter. Quent Capital LLC lifted its position in Procore Technologies by 178,459.1% in the second quarter. Quent Capital LLC now owns 39,283 shares of the company’s stock valued at $2,688,000 after buying an additional 39,261 shares during the last quarter. Vanderbilt University lifted its position in Procore Technologies by 13.6% in the second quarter. Vanderbilt University now owns 65,574 shares of the company’s stock valued at $4,487,000 after buying an additional 7,838 shares during the last quarter. Hilltop National Bank acquired a new position in Procore Technologies in the second quarter valued at about $62,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Procore Technologies by 8.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,030 shares of the company’s stock valued at $618,000 after buying an additional 735 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PCOR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. DA Davidson began coverage on shares of Procore Technologies in a research report on Monday, August 4th. They issued a “neutral” rating and a $70.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Procore Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Piper Sandler reissued an “overweight” rating and set a $82.00 price target on shares of Procore Technologies in a research report on Tuesday. Finally, BMO Capital Markets increased their price target on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.11.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 7,692 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $70.56, for a total value of $542,747.52. Following the sale, the director owned 1,115,637 shares of the company’s stock, valued at $78,719,346.72. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Howard Fu sold 796 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $13,398,704.22. This trade represents a 0.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,114 shares of company stock valued at $2,228,405 over the last 90 days. 21.50% of the stock is owned by corporate insiders.

Procore Technologies Stock Down 2.9%

Shares of PCOR opened at $70.62 on Friday. The stock has a market capitalization of $10.61 billion, a PE ratio of -73.56 and a beta of 0.90. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. The company’s 50-day simple moving average is $69.63 and its 200-day simple moving average is $67.85.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The business had revenue of $172.21 million for the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%. Analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal 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.