Praesidium Investment Management Company LLC Takes $21.31 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Praesidium Investment Management Company LLC purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 345,289 shares of the company’s stock, valued at approximately $21,311,000. Procore Technologies comprises about 3.6% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 12th largest holding.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Procore Technologies in the 3rd quarter valued at about $26,000. Signaturefd LLC lifted its holdings in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Procore Technologies in the 2nd quarter valued at about $51,000. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $82.67 on Wednesday. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of -165.34 and a beta of 0.82. The company’s 50 day moving average is $66.88 and its 200 day moving average is $64.43. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Procore Technologies news, Director Kathryn Bueker sold 6,500 shares of Procore Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $78.01, for a total value of $507,065.00. Following the transaction, the director now directly owns 23,932 shares of the company’s stock, valued at approximately $1,866,935.32. The trade was a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total transaction of $521,030.44. Following the completion of the transaction, the director now directly owns 1,371,104 shares in the company, valued at $79,606,298.24. This represents a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,553 shares of company stock valued at $7,933,974. 29.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PCOR has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. UBS Group began coverage on shares of Procore Technologies in a research note on Monday. They issued a “buy” rating and a $105.00 price objective for the company. Robert W. Baird began coverage on shares of Procore Technologies in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 price objective for the company. Scotiabank raised their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Finally, KeyCorp raised their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.65.

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.