Geode Capital Management LLC Buys 72,870 Shares of Procore Technologies, Inc. $PCOR

Geode Capital Management LLC lifted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 3.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,918,606 shares of the company’s stock after buying an additional 72,870 shares during the quarter. Geode Capital Management LLC owned about 1.28% of Procore Technologies worth $131,292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC acquired a new stake in Procore Technologies during the fourth quarter worth approximately $511,000. Choreo LLC lifted its holdings in Procore Technologies by 21.7% during the 1st quarter. Choreo LLC now owns 3,991 shares of the company’s stock worth $263,000 after purchasing an additional 711 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Procore Technologies during the 1st quarter worth approximately $2,779,000. 1888 Investments LLC bought a new stake in Procore Technologies in the 1st quarter valued at $258,000. Finally, Journey Strategic Wealth LLC acquired a new position in Procore Technologies in the 1st quarter valued at $337,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCOR. Citizens Jmp cut shares of Procore Technologies from an “outperform” rating to a “market perform” 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. Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. DA Davidson raised shares of Procore Technologies to a “hold” rating in a report on Friday, November 7th. Finally, BMO Capital Markets boosted their price target on Procore Technologies from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.26.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $71.71 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The company has a market cap of $11.15 billion, a PE ratio of -85.37 and a beta of 0.90. The company has a 50 day moving average of $73.21 and a 200-day moving average of $70.14. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (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 during the quarter. As a group, equities research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 22,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $78.77, for a total transaction of $1,732,940.00. Following the completion of the sale, the senior vice president directly owned 63,309 shares in the company, valued at $4,986,849.93. This represents a 25.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Connor Kevin J. O sold 36,196 shares of Procore Technologies stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $78.06, for a total value of $2,825,459.76. Following the completion of the transaction, the director owned 1,071,749 shares in the company, valued at approximately $83,660,726.94. This represents a 3.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 92,341 shares of company stock worth $7,100,270 in the last three months. Insiders own 21.50% of the company’s stock.

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.