Cooper Investors PTY Ltd. Grows Stock Position in Procore Technologies, Inc. $PCOR

Cooper Investors PTY Ltd. boosted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 29.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,315 shares of the company’s stock after acquiring an additional 21,802 shares during the quarter. Procore Technologies accounts for about 1.9% of Cooper Investors PTY Ltd.’s investment portfolio, making the stock its 21st largest holding. Cooper Investors PTY Ltd.’s holdings in Procore Technologies were worth $6,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock valued at $35,000 after purchasing an additional 385 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Procore Technologies in the second quarter worth $62,000. Elevation Point Wealth Partners LLC bought a new stake in Procore Technologies during the 2nd quarter valued at $68,000. Farther Finance Advisors LLC boosted its position in Procore Technologies by 304.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock valued at $112,000 after buying an additional 1,157 shares during the period. Finally, AlphaQuest LLC grew its holdings in Procore Technologies by 58.7% in the 1st quarter. AlphaQuest LLC now owns 1,858 shares of the company’s stock worth $123,000 after acquiring an additional 687 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PCOR shares. DA Davidson raised shares of Procore Technologies to a “hold” rating in a research note on Friday, November 7th. BTIG Research reaffirmed a “buy” rating and set a $88.00 price target on shares of Procore Technologies in a research report on Wednesday, December 17th. William Blair reiterated an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. Piper Sandler lifted their price objective on Procore Technologies from $82.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Berenberg Bank began coverage on Procore Technologies in a report on Friday, October 3rd. They set a “buy” rating and a $84.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.67.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 36,196 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $78.06, for a total transaction of $2,825,459.76. Following the completion of the transaction, the director owned 1,071,749 shares of the company’s stock, valued at approximately $83,660,726.94. This trade represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Craig F. Jr. Courtemanche sold 300,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $71.91, for a total transaction of $21,573,000.00. Following the transaction, the chairman owned 677,796 shares of the company’s stock, valued at $48,740,310.36. The trade was a 30.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 690,703 shares of company stock worth $50,314,544 over the last 90 days. 21.50% of the stock is currently owned by insiders.

Procore Technologies Trading Up 0.4%

NYSE PCOR opened at $74.62 on Friday. The firm has a market capitalization of $11.60 billion, a PE ratio of -88.83 and a beta of 0.90. The stock’s 50 day moving average is $74.44 and its 200 day moving average is $71.31. Procore Technologies, Inc. has a twelve month low of $53.71 and a twelve month high of $88.92. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last announced 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 firm had revenue of $172.21 million for the quarter. Research analysts forecast 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. 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.