Procore Technologies, Inc. (NYSE:PCOR) Stock Position Lowered by Versor Investments LP

Versor Investments LP lessened its position in Procore Technologies, Inc. (NYSE:PCOR) by 74.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,106 shares of the company’s stock after selling 15,180 shares during the period. Versor Investments LP’s holdings in Procore Technologies were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lountzis Asset Management LLC acquired a new stake in shares of Procore Technologies during the third quarter worth $6,160,000. Atria Investments Inc raised its position in shares of Procore Technologies by 11.9% during the third quarter. Atria Investments Inc now owns 4,950 shares of the company’s stock worth $306,000 after purchasing an additional 527 shares during the period. Kornitzer Capital Management Inc. KS raised its position in shares of Procore Technologies by 24.9% during the third quarter. Kornitzer Capital Management Inc. KS now owns 175,800 shares of the company’s stock worth $10,850,000 after purchasing an additional 35,000 shares during the period. Olympiad Research LP raised its position in shares of Procore Technologies by 42.4% during the third quarter. Olympiad Research LP now owns 9,899 shares of the company’s stock worth $611,000 after purchasing an additional 2,947 shares during the period. Finally, WoodTrust Financial Corp acquired a new stake in shares of Procore Technologies during the third quarter worth $201,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Stock Performance

PCOR opened at $69.15 on Friday. The company has a market cap of $10.28 billion, a PE ratio of -138.30 and a beta of 0.71. The stock has a 50-day moving average of $62.53 and a 200-day moving average of $63.85. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, equities research analysts forecast that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PCOR shares. TD Cowen upped their price target on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Piper Sandler upped their price target on Procore Technologies from $63.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. DA Davidson reissued a “neutral” rating and set a $60.00 price target on shares of Procore Technologies in a research report on Wednesday, October 2nd. The Goldman Sachs Group dropped their price target on Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, KeyCorp dropped their price target on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.94.

Insider Transactions at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 2,707 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the completion of the sale, the senior vice president now owns 79,156 shares in the company, valued at $4,681,285.84. This represents a 3.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Connor Kevin J. O sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $57.53, for a total value of $1,438,250.00. Following the sale, the director now owns 1,380,078 shares of the company’s stock, valued at approximately $79,395,887.34. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,695 shares of company stock worth $8,283,143. 29.00% of the stock is owned by corporate insiders.

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.