Pier Capital LLC Buys 26,986 Shares of Procore Technologies, Inc. $PCOR

Pier Capital LLC lifted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 26.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 127,160 shares of the company’s stock after buying an additional 26,986 shares during the quarter. Procore Technologies makes up 1.4% of Pier Capital LLC’s holdings, making the stock its 16th largest holding. Pier Capital LLC’s holdings in Procore Technologies were worth $9,273,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PCOR. Global Retirement Partners LLC grew its position in Procore Technologies by 465.2% during the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after purchasing an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Procore Technologies in the third quarter worth approximately $34,000. Jones Financial Companies Lllp grew its holdings in shares of Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after buying an additional 199 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Procore Technologies during the third quarter valued at approximately $49,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Procore Technologies during the third quarter valued at approximately $57,000. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Price Performance

Shares of PCOR opened at $57.04 on Friday. The firm has a fifty day simple moving average of $59.70 and a two-hundred day simple moving average of $68.37. The firm has a market cap of $8.56 billion, a PE ratio of -85.13 and a beta of 0.90. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 1-year low of $46.08 and a 1-year high of $82.32.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $349.11 million for the quarter, compared to the consensus estimate of $340.80 million. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. On average, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PCOR. DA Davidson lowered their price objective on Procore Technologies from $75.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. BMO Capital Markets reduced their target price on Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. BTIG Research restated a “buy” rating and issued a $66.00 price target on shares of Procore Technologies in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. Finally, KeyCorp dropped their price objective on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.05.

Insider Transactions at Procore Technologies

In other news, insider Benjamin C. Singer sold 4,225 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total transaction of $211,250.00. Following the completion of the sale, the insider owned 64,660 shares of the company’s stock, valued at $3,233,000. This represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Connor Kevin J. O sold 7,692 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $57.25, for a total transaction of $440,367.00. Following the completion of the transaction, the director owned 1,004,444 shares in the company, valued at $57,504,419. This trade represents a 0.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 377,911 shares of company stock valued at $25,881,654. 21.50% of the stock is owned by company insiders.

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.