Procore Technologies, Inc. $PCOR Shares Bought by Nomura Holdings Inc.

Nomura Holdings Inc. increased its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 59.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,569 shares of the company’s stock after buying an additional 26,361 shares during the quarter. Nomura Holdings Inc.’s holdings in Procore Technologies were worth $4,828,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. US Bancorp DE raised its holdings in shares of Procore Technologies by 5.5% in the 2nd quarter. US Bancorp DE now owns 21,638 shares of the company’s stock valued at $1,480,000 after buying an additional 1,131 shares during the period. Federated Hermes Inc. boosted its stake in shares of Procore Technologies by 17.0% in the 2nd quarter. Federated Hermes Inc. now owns 304,219 shares of the company’s stock valued at $20,815,000 after buying an additional 44,105 shares during the period. Fred Alger Management LLC grew its position in shares of Procore Technologies by 15.4% during the first quarter. Fred Alger Management LLC now owns 38,349 shares of the company’s stock worth $2,532,000 after buying an additional 5,129 shares in the last quarter. Intellectus Partners LLC raised its holdings in Procore Technologies by 135.3% in the second quarter. Intellectus Partners LLC now owns 12,305 shares of the company’s stock valued at $842,000 after acquiring an additional 7,075 shares in the last quarter. Finally, GC Wealth Management RIA LLC purchased a new stake in Procore Technologies during the second quarter worth approximately $513,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Down 2.9%

Shares of Procore Technologies stock opened at $72.32 on Tuesday. Procore Technologies, Inc. has a twelve month low of $53.71 and a twelve month high of $88.92. The stock has a market cap of $11.24 billion, a price-to-earnings ratio of -86.10 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. The company has a fifty day moving average price of $74.14 and a 200 day moving average price of $70.98.

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

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 22,000 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $78.77, for a total value of $1,732,940.00. Following the completion of the transaction, the senior vice president directly owned 63,309 shares in the company, valued at approximately $4,986,849.93. This represents a 25.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Craig F. Jr. Courtemanche sold 300,000 shares of Procore Technologies stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $71.91, for a total transaction of $21,573,000.00. Following the sale, the chairman directly owned 677,796 shares in the company, valued at $48,740,310.36. This trade represents a 30.68% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 416,957 shares of company stock valued at $30,494,876. 21.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PCOR has been the subject of a number of research reports. KeyCorp boosted their price objective on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. William Blair restated an “outperform” rating on shares of Procore Technologies in a research report on Friday, October 17th. Canaccord Genuity Group increased their price objective on shares of Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Piper Sandler boosted their price objective on shares of Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, DA Davidson raised Procore Technologies to a “hold” rating in a research note on Friday, November 7th. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.47.

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.