Vanguard Personalized Indexing Management LLC Increases Position in Procore Technologies, Inc. $PCOR

Vanguard Personalized Indexing Management LLC grew its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,913 shares of the company’s stock after purchasing an additional 814 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Procore Technologies were worth $747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Xponance Inc. boosted its stake in shares of Procore Technologies by 1.8% in the first quarter. Xponance Inc. now owns 14,864 shares of the company’s stock worth $981,000 after buying an additional 263 shares during the last quarter. TFB Advisors LLC raised its holdings in Procore Technologies by 8.1% in the 1st quarter. TFB Advisors LLC now owns 3,543 shares of the company’s stock valued at $234,000 after acquiring an additional 264 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Procore Technologies by 4.2% during the 1st quarter. Amalgamated Bank now owns 7,374 shares of the company’s stock worth $487,000 after acquiring an additional 295 shares during the period. Allen Investment Management LLC increased its holdings in shares of Procore Technologies by 7.3% during the 1st quarter. Allen Investment Management LLC now owns 5,133 shares of the company’s stock worth $339,000 after buying an additional 348 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Procore Technologies by 277.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after purchasing an additional 385 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PCOR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. Robert W. Baird upped their price target on shares of Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. William Blair reiterated an “outperform” rating on shares of Procore Technologies in a research note on Friday. Piper Sandler reiterated an “overweight” rating and set a $82.00 price target on shares of Procore Technologies in a research report on Tuesday, October 14th. Finally, Barclays lifted their price objective on Procore Technologies from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Fifteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.11.

Insider Buying and Selling

In related news, CFO Howard Fu sold 796 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $71.02, for a total value of $56,531.92. Following the completion of the transaction, the chief financial officer owned 188,661 shares in the company, valued at $13,398,704.22. This represents a 0.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $70.56, for a total value of $542,747.52. Following the transaction, the director directly owned 1,115,637 shares in the company, valued at approximately $78,719,346.72. The trade was a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,910 shares of company stock valued at $2,063,634 over the last 90 days. 21.50% of the stock is currently owned by company insiders.

Procore Technologies Stock Up 3.3%

Shares of Procore Technologies stock opened at $72.33 on Tuesday. The business has a 50-day moving average price of $70.00 and a 200 day moving average price of $68.01. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The firm has a market cap of $10.86 billion, a P/E ratio of -75.35 and a beta of 0.90. 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 (NYSE:PCOR) last issued its earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The firm had revenue of $172.21 million during the quarter. On average, sell-side 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.