Conestoga Capital Advisors LLC Boosts Holdings in Procore Technologies, Inc. $PCOR

Conestoga Capital Advisors LLC lifted its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 51.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 337,442 shares of the company’s stock after purchasing an additional 114,480 shares during the period. Conestoga Capital Advisors LLC owned about 0.23% of Procore Technologies worth $23,088,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Procore Technologies by 84.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company’s stock worth $215,195,000 after buying an additional 1,492,869 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Procore Technologies by 3.1% during the first quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company’s stock worth $182,365,000 after acquiring an additional 82,311 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Procore Technologies by 25.6% in the first quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company’s stock worth $145,954,000 after acquiring an additional 451,238 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Procore Technologies by 7.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,879,226 shares of the company’s stock valued at $124,067,000 after purchasing an additional 126,070 shares during the last quarter. Finally, RGM Capital LLC grew its stake in Procore Technologies by 9.3% during the 1st quarter. RGM Capital LLC now owns 1,790,402 shares of the company’s stock valued at $118,202,000 after purchasing an additional 153,039 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stifel Nicolaus upped their target price on Procore Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. William Blair reissued an “outperform” rating on shares of Procore Technologies in a report on Friday. DA Davidson assumed coverage on shares of Procore Technologies in a research note on Monday, August 4th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, BMO Capital Markets lifted their price target on Procore Technologies from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Fifteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and a consensus price target of $83.11.

Procore Technologies Trading Down 1.0%

NYSE PCOR opened at $69.89 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. Procore Technologies, Inc. has a one year low of $53.71 and a one year high of $88.92. The company has a 50-day simple moving average of $69.78 and a 200-day simple moving average of $67.90. The firm has a market capitalization of $10.50 billion, a PE ratio of -72.80 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The business had revenue of $172.21 million during the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%. On average, equities analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insider Activity at Procore Technologies

In related news, insider Benjamin C. Singer sold 4,205 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $63.67, for a total value of $267,732.35. Following the sale, the insider owned 86,366 shares of the company’s stock, valued at $5,498,923.22. This trade represents a 4.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $66.28, for a total transaction of $509,825.76. Following the completion of the sale, the director owned 1,146,405 shares in the company, valued at approximately $75,983,723.40. This represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,910 shares of company stock worth $2,063,634 in the last 90 days. 21.50% of the stock is currently owned by company insiders.

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.