Quadrature Capital Ltd Has $1.81 Million Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Quadrature Capital Ltd trimmed its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 25.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,035 shares of the company’s stock after selling 7,417 shares during the period. Quadrature Capital Ltd’s holdings in Procore Technologies were worth $1,810,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PCOR. Raymond James & Associates lifted its stake in Procore Technologies by 1,055.4% in the 4th quarter. Raymond James & Associates now owns 46,148 shares of the company’s stock valued at $3,194,000 after purchasing an additional 42,154 shares during the last quarter. Fifth Third Bancorp lifted its stake in Procore Technologies by 10.5% in the 4th quarter. Fifth Third Bancorp now owns 6,900 shares of the company’s stock valued at $478,000 after purchasing an additional 654 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Procore Technologies by 5.7% in the 4th quarter. Venturi Wealth Management LLC now owns 7,557 shares of the company’s stock valued at $523,000 after purchasing an additional 408 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in Procore Technologies in the 4th quarter valued at about $265,000. Finally, International Assets Investment Management LLC lifted its stake in Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after purchasing an additional 887 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Procore Technologies

In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total value of $4,689,960.00. Following the transaction, the chief executive officer now directly owns 530,049 shares of the company’s stock, valued at $36,557,479.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $69.48, for a total value of $356,293.44. Following the sale, the director now owns 1,448,159 shares in the company, valued at $100,618,087.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the completion of the sale, the chief executive officer now owns 530,049 shares in the company, valued at approximately $36,557,479.53. The disclosure for this sale can be found here. Insiders have sold 309,511 shares of company stock valued at $20,921,459 over the last three months. 29.00% of the stock is owned by insiders.

Procore Technologies Stock Performance

Shares of PCOR traded up $2.62 during mid-day trading on Friday, hitting $70.31. 939,465 shares of the company’s stock were exchanged, compared to its average volume of 1,455,185. Procore Technologies, Inc. has a 52 week low of $48.11 and a 52 week high of $83.35. The stock’s 50-day simple moving average is $66.93 and its 200-day simple moving average is $71.46. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of -73.24 and a beta of 0.75. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The business had revenue of $269.43 million for the quarter, compared to analysts’ expectations of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

PCOR has been the subject of several recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $85.00 target price on shares of Procore Technologies in a research note on Tuesday, June 11th. Piper Sandler lowered their price target on shares of Procore Technologies from $77.00 to $74.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. TD Cowen started coverage on shares of Procore Technologies in a report on Wednesday, June 12th. They issued a “buy” rating and a $85.00 price target on the stock. Macquarie started coverage on shares of Procore Technologies in a report on Wednesday, June 5th. They issued a “neutral” rating and a $70.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Procore Technologies from $86.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.67.

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.