Acadian Asset Management LLC Has $3.11 Million Holdings in Procore Technologies, Inc. $PCOR

Acadian Asset Management LLC decreased its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 47.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,483 shares of the company’s stock after selling 40,597 shares during the period. Acadian Asset Management LLC’s holdings in Procore Technologies were worth $3,111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCOR. JPMorgan Chase & Co. increased its holdings 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 acquiring an additional 1,492,869 shares during the last quarter. Wellington Management Group LLP boosted its position in Procore Technologies by 25.6% during the first 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 period. Westfield Capital Management Co. LP increased its holdings in shares of Procore Technologies by 7.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,879,226 shares of the company’s stock valued at $124,067,000 after purchasing an additional 126,070 shares during the last quarter. RGM Capital LLC raised its position in shares of Procore Technologies by 9.3% in the first quarter. RGM Capital LLC now owns 1,790,402 shares of the company’s stock valued at $118,202,000 after purchasing an additional 153,039 shares during the period. Finally, Invesco Ltd. raised its position in shares of Procore Technologies by 11.9% in the first quarter. Invesco Ltd. now owns 1,524,010 shares of the company’s stock valued at $100,615,000 after purchasing an additional 162,187 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PCOR. William Blair reaffirmed an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. Citizens Jmp cut Procore Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 1st. Wall Street Zen raised Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Piper Sandler increased their target price on Procore Technologies from $82.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Robert W. Baird boosted their price target on Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Fifteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and an average target price of $84.26.

Insider Buying and Selling at Procore Technologies

In related news, Director Kathryn Bueker sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $79.00, for a total value of $513,500.00. Following the sale, the director directly owned 13,481 shares of the company’s stock, valued at $1,064,999. This trade represents a 32.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Howard Fu sold 814 shares of Procore Technologies stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $72.34, for a total value of $58,884.76. Following the completion of the transaction, the chief financial officer owned 187,847 shares in the company, valued at approximately $13,588,851.98. This represents a 0.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 105,035 shares of company stock worth $7,928,717 over the last quarter. 21.50% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

NYSE PCOR opened at $75.49 on Friday. The firm’s 50 day simple moving average is $73.05 and its 200 day simple moving average is $69.92. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of -89.87 and a beta of 0.90. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. The firm had revenue of $172.21 million for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. As a group, research analysts expect 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.