Universal Beteiligungs und Servicegesellschaft mbH Takes $2.78 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,093 shares of the company’s stock, valued at approximately $2,779,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in shares of Procore Technologies by 453.6% during the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock valued at $233,704,000 after purchasing an additional 2,555,612 shares during the last quarter. Principal Financial Group Inc. grew its stake in Procore Technologies by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company’s stock worth $182,365,000 after buying an additional 82,311 shares during the last quarter. Janus Henderson Group PLC grew its stake in Procore Technologies by 14.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company’s stock worth $196,873,000 after buying an additional 322,367 shares during the last quarter. FIL Ltd increased its position in Procore Technologies by 4.0% in the fourth quarter. FIL Ltd now owns 2,171,975 shares of the company’s stock worth $162,746,000 after buying an additional 84,216 shares during the period. Finally, Wasatch Advisors LP lifted its stake in Procore Technologies by 28.8% in the fourth quarter. Wasatch Advisors LP now owns 2,036,632 shares of the company’s stock valued at $152,605,000 after buying an additional 455,314 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Scotiabank dropped their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. Barclays raised their price target on shares of Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Arete assumed coverage on Procore Technologies in a research report on Monday, June 16th. They set a “buy” rating and a $91.00 price objective for the company. UBS Group decreased their price objective on Procore Technologies from $110.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their target price on Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.94.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $76.41 on Wednesday. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $69.54 and a two-hundred day moving average of $70.34. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of -88.85 and a beta of 0.89.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, May 1st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $310.63 million during the quarter, compared to analyst estimates of $302.66 million. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. As a group, analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William J.G. Griffith sold 309,168 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $64.76, for a total transaction of $20,021,719.68. Following the transaction, the director directly owned 1,893,458 shares of the company’s stock, valued at approximately $122,620,340.08. The trade was a 14.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 4,500 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $75.00, for a total value of $337,500.00. Following the sale, the insider owned 97,557 shares of the company’s stock, valued at $7,316,775. The trade was a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 672,447 shares of company stock valued at $43,878,843. Company insiders own 29.00% 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.