ANTIPODES PARTNERS Ltd Purchases 653,174 Shares of Procore Technologies, Inc. $PCOR

ANTIPODES PARTNERS Ltd raised its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 330.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 850,955 shares of the company’s stock after buying an additional 653,174 shares during the quarter. ANTIPODES PARTNERS Ltd owned about 0.57% of Procore Technologies worth $62,056,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC increased its stake in shares of Procore Technologies by 465.2% in the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after acquiring an additional 321 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Procore Technologies in the third quarter worth about $34,000. Jones Financial Companies Lllp grew its holdings in Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 199 shares during the period. First Horizon Corp bought a new position in shares of Procore Technologies during the third quarter valued at approximately $49,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Procore Technologies during the third quarter valued at approximately $57,000. Institutional investors own 81.10% of the company’s stock.

Insider Activity

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 10,000 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $75.30, for a total value of $753,000.00. Following the transaction, the executive owned 184,128 shares of the company’s stock, valued at approximately $13,864,838.40. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 9,615 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $75.13, for a total value of $722,374.95. Following the sale, the director owned 1,052,519 shares of the company’s stock, valued at approximately $79,075,752.47. This represents a 0.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 311,391 shares of company stock worth $22,541,570. Insiders own 21.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PCOR. Barclays cut their price target on Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. BMO Capital Markets cut their target price on Procore Technologies from $87.00 to $67.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Canaccord Genuity Group reduced their price target on Procore Technologies from $90.00 to $72.00 and set a “buy” rating for the company in a report on Friday, February 13th. Zacks Research cut shares of Procore Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, UBS Group cut their price objective on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.95.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $52.37 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of -78.16 and a beta of 0.89. The business has a 50-day simple moving average of $64.75 and a two-hundred day simple moving average of $69.22. Procore Technologies, Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $84.77.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $349.11 million during the quarter, compared to analyst estimates of $340.80 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 4.00%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. On average, analysts expect 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.