Ieq Capital LLC Purchases 23,449 Shares of Procore Technologies, Inc. $PCOR

Ieq Capital LLC increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,346 shares of the company’s stock after acquiring an additional 23,449 shares during the quarter. Ieq Capital LLC owned about 0.17% of Procore Technologies worth $16,924,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after purchasing an additional 385 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Procore Technologies during the 1st quarter valued at $49,000. Ancora Advisors LLC boosted its position in shares of Procore Technologies by 10,625.0% in the 4th quarter. Ancora Advisors LLC now owns 858 shares of the company’s stock worth $64,000 after purchasing an additional 850 shares in the last quarter. Versant Capital Management Inc grew its stake in Procore Technologies by 174.2% during the 1st quarter. Versant Capital Management Inc now owns 1,001 shares of the company’s stock worth $66,000 after buying an additional 636 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Procore Technologies by 53.4% during the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock worth $79,000 after buying an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PCOR shares. Citizens Jmp cut Procore Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st. Barclays increased their price objective on shares of Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Mizuho boosted their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Arete assumed coverage on shares of Procore Technologies in a report on Monday, June 16th. They issued a “buy” rating and a $91.00 price target for the company. Finally, Robert W. Baird lifted their price objective on shares of Procore Technologies from $83.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.06.

Insider Activity

In related news, CFO Howard Fu sold 797 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $63.85, for a total value of $50,888.45. Following the completion of the sale, the chief financial officer owned 189,457 shares of the company’s stock, valued at approximately $12,096,829.45. The trade was a 0.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 7,692 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $66.28, for a total transaction of $509,825.76. Following the transaction, the director owned 1,146,405 shares of the company’s stock, valued at approximately $75,983,723.40. This trade represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 664,449 shares of company stock worth $43,235,011 over the last three months. 21.50% of the stock is currently owned by corporate insiders.

Procore Technologies Stock Performance

NYSE PCOR opened at $67.83 on Thursday. The firm has a market capitalization of $10.19 billion, a P/E ratio of -70.66 and a beta of 0.90. The stock has a 50-day simple moving average of $68.96 and a two-hundred day simple moving average of $68.59. 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 fifty-two week low of $52.78 and a fifty-two week high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The company had revenue of $323.92 million during the quarter, compared to analysts’ expectations of $311.91 million. During the same period last year, the business earned $0.39 earnings per share. Procore Technologies’s quarterly revenue was up 13.9% on a year-over-year basis. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current 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.