Procore Technologies, Inc. (NYSE:PCOR) Holdings Raised by RGM Capital LLC

RGM Capital LLC raised its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 94.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,293,467 shares of the company’s stock after acquiring an additional 626,861 shares during the quarter. Procore Technologies makes up 3.5% of RGM Capital LLC’s investment portfolio, making the stock its 15th largest holding. RGM Capital LLC owned 0.87% of Procore Technologies worth $79,833,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC grew its position in shares of Procore Technologies by 16.9% in the second quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock valued at $580,000 after purchasing an additional 1,266 shares during the last quarter. M&G Plc grew its position in shares of Procore Technologies by 12.4% during the 2nd quarter. M&G Plc now owns 120,626 shares of the company’s stock worth $7,961,000 after buying an additional 13,334 shares during the period. Burney Co. bought a new position in shares of Procore Technologies in the 1st quarter worth $1,371,000. SG Americas Securities LLC increased its stake in shares of Procore Technologies by 118.0% in the 2nd quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock valued at $1,158,000 after acquiring an additional 9,454 shares during the last quarter. Finally, Pathstone Holdings LLC raised its stake in Procore Technologies by 804.3% during the 3rd quarter. Pathstone Holdings LLC now owns 145,802 shares of the company’s stock worth $8,999,000 after buying an additional 129,679 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the transaction, the senior vice president now directly owns 75,120 shares in the company, valued at approximately $5,314,740. This represents a 16.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the completion of the transaction, the chief executive officer now owns 770,458 shares of the company’s stock, valued at $54,979,882.88. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,053 shares of company stock worth $7,426,909. Insiders own 29.00% of the company’s stock.

Procore Technologies Stock Performance

Shares of NYSE PCOR traded up $0.13 during trading on Wednesday, hitting $80.39. The company had a trading volume of 84,905 shares, compared to its average volume of 1,601,631. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. The stock has a 50 day simple moving average of $64.64 and a 200 day simple moving average of $64.00. The firm has a market capitalization of $11.95 billion, a P/E ratio of -160.56 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JMP Securities decreased their price target on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a research note on Thursday, October 31st. Scotiabank upped their price objective on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group raised their price objective 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. Robert W. Baird began coverage on Procore Technologies in a report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 target price on the stock. Finally, Jefferies Financial Group boosted their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

About Procore Technologies

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.