Landscape Capital Management L.L.C. Buys New Stake in Procore Technologies, Inc. $PCOR

Landscape Capital Management L.L.C. purchased a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) during the 2nd quarter, HoldingsChannel reports. The firm purchased 16,904 shares of the company’s stock, valued at approximately $687,000.

Other large investors have also modified their holdings of the company. SJS Investment Consulting Inc. grew its position in shares of Procore Technologies by 7,100.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock valued at $25,000 after acquiring an additional 426 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Procore Technologies in the 3rd quarter worth about $34,000. Allworth Financial LP boosted its position in Procore Technologies by 48.2% during the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after purchasing an additional 204 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Procore Technologies during the second quarter worth approximately $52,000. Finally, Employees Retirement System of Texas purchased a new position in Procore Technologies during the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PCOR. Citigroup restated a “market outperform” rating on shares of Procore Technologies in a research report on Tuesday, July 21st. Guggenheim started coverage on Procore Technologies in a research report on Thursday, July 23rd. They set a “buy” rating and a $68.00 target price on the stock. The Goldman Sachs Group dropped their price target on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. UBS Group boosted their price target on shares of Procore Technologies from $68.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, BTIG Research restated a “buy” rating and set a $66.00 price objective on shares of Procore Technologies in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $70.44.

Procore Technologies Price Performance

NYSE PCOR opened at $63.30 on Monday. The company has a market cap of $9.62 billion, a PE ratio of -243.46 and a beta of 0.70. The stock’s 50 day simple moving average is $48.18 and its 200-day simple moving average is $51.15. Procore Technologies, Inc. has a 1-year low of $38.03 and a 1-year high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) 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 firm had revenue of $375.21 million for the quarter, compared to analyst estimates of $365.82 million. During the same period in the previous year, the company posted $0.35 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. On average, equities research analysts anticipate that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 3,942 shares of Procore Technologies stock in a transaction on Friday, May 29th. The shares were sold at an average price of $50.00, for a total transaction of $197,100.00. Following the sale, the insider owned 96,723 shares of the company’s stock, valued at $4,836,150. The trade was a 3.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William Fred Fleming, Jr. sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $58.95, for a total transaction of $589,500.00. Following the sale, the senior vice president directly owned 104,981 shares of the company’s stock, valued at $6,188,629.95. The trade was a 8.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, 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.