Edmond DE Rothschild Holding S.A. Invests $3.29 Million in Procore Technologies, Inc. $PCOR

Edmond DE Rothschild Holding S.A. acquired a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 81,083 shares of the company’s stock, valued at approximately $3,294,000. Edmond DE Rothschild Holding S.A. owned 0.05% of Procore Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Madison Asset Management LLC bought a new stake in Procore Technologies in the second quarter worth approximately $3,036,000. Diversify Advisory Services LLC acquired a new position in Procore Technologies in the second quarter valued at approximately $531,000. Citizens Financial Group Inc. RI bought a new position in shares of Procore Technologies during the 2nd quarter worth approximately $964,000. BlackRock Inc. bought a new position in shares of Procore Technologies during the 2nd quarter worth approximately $300,345,000. Finally, Deutsche Bank AG bought a new position in shares of Procore Technologies during the 2nd quarter worth approximately $114,444,000. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PCOR shares. Citizens Jmp upgraded shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price objective for the company in a research note on Wednesday, April 29th. Piper Sandler cut their target price on shares of Procore Technologies from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Jefferies Financial Group reduced their price target on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. BTIG Research reaffirmed a “buy” rating and issued a $66.00 price target on shares of Procore Technologies in a research note on Friday, July 24th. Finally, The Goldman Sachs Group decreased their price target on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.44.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $63.01 on Friday. The stock has a market capitalization of $9.57 billion, a PE ratio of -242.35 and a beta of 0.70. Procore Technologies, Inc. has a 52 week low of $38.03 and a 52 week high of $82.32. The stock has a 50 day moving average price of $47.76 and a two-hundred day moving average price of $51.10.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The company had revenue of $375.21 million for the quarter, compared to analyst estimates of $365.82 million. During the same period in the prior year, the firm earned $0.35 earnings per share. Procore Technologies’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts forecast that Procore Technologies, Inc. will post 0.09 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $57.11, for a total value of $3,205,127.42. Following the transaction, the chairman directly owned 919,704 shares of the company’s stock, valued at approximately $52,524,295.44. This trade represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $54.98, for a total transaction of $422,906.16. Following the transaction, the director owned 939,054 shares of the company’s stock, valued at $51,629,188.92. This represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 224,199 shares of company stock worth $11,083,445. Company insiders own 16.80% of the company’s stock.

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.