Procore Technologies, Inc. $PCOR Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC increased its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 15.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,349 shares of the company’s stock after purchasing an additional 5,129 shares during the period. Fred Alger Management LLC’s holdings in Procore Technologies were worth $2,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in Procore Technologies by 277.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after buying an additional 385 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Procore Technologies during the first quarter worth approximately $49,000. Versant Capital Management Inc raised its stake in Procore Technologies by 174.2% in the 1st quarter. Versant Capital Management Inc now owns 1,001 shares of the company’s stock valued at $66,000 after purchasing an additional 636 shares during the last quarter. Signaturefd LLC lifted its holdings in Procore Technologies by 53.4% in the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock valued at $79,000 after purchasing an additional 419 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Procore Technologies by 66.6% during the 1st quarter. GAMMA Investing LLC now owns 1,243 shares of the company’s stock worth $82,000 after purchasing an additional 497 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCOR has been the topic of a number of recent research reports. Citizens Jmp lowered shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 1st. JMP Securities restated a “market perform” rating and set a $95.00 target price on shares of Procore Technologies in a report on Friday, August 1st. DA Davidson initiated coverage on Procore Technologies in a report on Monday, August 4th. They issued a “neutral” rating and a $70.00 price target for the company. BMO Capital Markets lifted their price objective on Procore Technologies from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Arete started coverage on Procore Technologies in a report on Monday, June 16th. They issued a “buy” rating and a $91.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.06.

Procore Technologies Trading Down 1.2%

PCOR opened at $70.02 on Wednesday. The business’s 50 day moving average price is $69.28 and its 200 day moving average price is $67.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $10.52 billion, a PE ratio of -72.94 and a beta of 0.90. Procore Technologies, Inc. has a one year low of $52.78 and a one year high of $88.92.

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

Insider Activity at Procore Technologies

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