Procore Technologies, Inc. $PCOR Position Lifted by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP raised its stake in Procore Technologies, Inc. (NYSE:PCOR) by 17.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 67,956 shares of the company’s stock after purchasing an additional 9,962 shares during the period. Procore Technologies accounts for approximately 1.3% of Advantage Alpha Capital Partners LP’s holdings, making the stock its 25th biggest holding. Advantage Alpha Capital Partners LP’s holdings in Procore Technologies were worth $4,650,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its holdings in Procore Technologies by 0.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 77,071 shares of the company’s stock valued at $5,273,000 after buying an additional 440 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Procore Technologies in the 2nd quarter worth approximately $68,000. Russell Investments Group Ltd. increased its holdings in shares of Procore Technologies by 3.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company’s stock valued at $500,000 after acquiring an additional 269 shares during the last quarter. Associated Banc Corp bought a new stake in shares of Procore Technologies in the 2nd quarter valued at approximately $250,000. Finally, Elo Mutual Pension Insurance Co acquired a new stake in shares of Procore Technologies during the 2nd quarter valued at approximately $799,000. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on PCOR shares. JMP Securities reaffirmed a “market perform” rating and issued a $95.00 price objective on shares of Procore Technologies in a report on Friday, August 1st. Piper Sandler lifted their price target on shares of Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Stifel Nicolaus increased their price objective on shares of Procore Technologies from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Canaccord Genuity Group raised their target price on shares of Procore Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, DA Davidson raised Procore Technologies to a “hold” rating in a report on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.47.

Insider Buying and Selling

In related news, insider Benjamin C. Singer sold 4,204 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $69.21, for a total value of $290,958.84. Following the completion of the transaction, the insider owned 75,676 shares in the company, valued at $5,237,535.96. This represents a 5.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kathryn Bueker sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $79.00, for a total transaction of $513,500.00. Following the transaction, the director directly owned 13,481 shares in the company, valued at approximately $1,064,999. The trade was a 32.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 397,342 shares of company stock valued at $29,019,501. Company insiders own 21.50% of the company’s stock.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $73.91 on Friday. The firm’s 50 day moving average is $73.34 and its two-hundred day moving average is $70.41. The firm has a market capitalization of $11.49 billion, a P/E ratio of -87.98 and a beta of 0.90. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The business had revenue of $172.21 million for the quarter. Analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Procore Technologies Company 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.