Robeco Schweiz AG Sells 10,540 Shares of Procore Technologies, Inc. $PCOR

Robeco Schweiz AG lessened its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,156,128 shares of the company’s stock after selling 10,540 shares during the quarter. Procore Technologies comprises about 1.9% of Robeco Schweiz AG’s portfolio, making the stock its 10th largest holding. Robeco Schweiz AG owned approximately 0.74% of Procore Technologies worth $84,097,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alliancebernstein L.P. lifted its position in Procore Technologies by 493.9% during the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock worth $445,391,000 after acquiring an additional 5,079,534 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Procore Technologies by 58.4% in the second quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company’s stock valued at $318,592,000 after purchasing an additional 1,717,492 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Procore Technologies by 77.6% during the third quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company’s stock worth $248,066,000 after purchasing an additional 1,486,153 shares during the period. Holocene Advisors LP increased its stake in shares of Procore Technologies by 245.9% during the third quarter. Holocene Advisors LP now owns 1,987,188 shares of the company’s stock worth $144,906,000 after purchasing an additional 1,412,721 shares during the period. Finally, Woodline Partners LP lifted its holdings in Procore Technologies by 173.1% during the 3rd quarter. Woodline Partners LP now owns 1,790,203 shares of the company’s stock worth $130,542,000 after purchasing an additional 1,134,657 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In other news, insider Benjamin C. Singer sold 4,225 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total value of $211,250.00. Following the completion of the transaction, the insider directly owned 64,660 shares in the company, valued at approximately $3,233,000. The trade was a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 5,769 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $51.07, for a total transaction of $294,622.83. Following the sale, the director owned 990,983 shares in the company, valued at $50,609,501.81. This represents a 0.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 148,026 shares of company stock valued at $7,783,734 over the last quarter. 16.80% of the stock is owned by company insiders.

Key Headlines Impacting Procore Technologies

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Revenue beat and strong top?line growth — Q1 revenue of $359.3M topped consensus and was up ~15.7% year?over?year; management said results exceeded the high end of guidance and raised the full?year outlook. Business Wire: Q1 Financial Results
• Positive Sentiment: Analysts remain constructive despite trims — UBS kept a Buy but cut its PT to $68, BTIG reaffirmed Buy with a $66 target, and Piper Sandler remains Overweight with a $71 PT. These ratings imply meaningful upside from current levels. Benzinga: Analyst Notes TickerReport: Piper Sandler
• Positive Sentiment: Strategic signal — coverage noted a narrower loss and a new AI board appointment that investors viewed as a positive step for product/strategy execution. Yahoo: Why PCOR Is Up 11.6%
• Neutral Sentiment: Q2 revenue guide roughly in line with consensus — management gave revenue guidance of $364–$366M vs. consensus ~$366.1M, leaving limited upside from guidance alone. Procore Q1 Release / Guidance
• Negative Sentiment: EPS missed expectations — reported EPS $0.34 vs. consensus $0.36, and the business still shows negative net margin and return on equity, which keeps profitability improvement a near?term focus. Zacks: EPS Miss MarketBeat: Earnings Details
• Negative Sentiment: Market reaction and volume — shares are trading down on the day with above?average volume, suggesting investor focus on the EPS miss and trimmed analyst targets despite the revenue beat. MarketBeat: PCOR Quote

Procore Technologies Price Performance

Procore Technologies stock opened at $53.09 on Thursday. The firm has a market cap of $8.01 billion, a PE ratio of -104.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.32. The stock’s fifty day moving average price is $55.72 and its two-hundred day moving average price is $64.29. Procore Technologies, Inc. has a one year low of $46.08 and a one year high of $82.32.

Procore Technologies (NYSE:PCOR) last released its earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.23%. The company had revenue of $359.28 million for the quarter, compared to the consensus estimate of $352.82 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. As a group, research analysts expect that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target for the company in a research note on Wednesday, April 29th. BTIG Research reissued a “buy” rating and set a $66.00 target price on shares of Procore Technologies in a report on Wednesday. Zacks Research raised shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group decreased their price target on shares of Procore Technologies from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Finally, Wall Street Zen lowered shares of Procore Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.88.

Procore Technologies 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.