Harbor Capital Advisors Inc. Buys 4,255 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Harbor Capital Advisors Inc. lifted its position in Procore Technologies, Inc. (NYSE:PCOR) by 16.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,397 shares of the company’s stock after purchasing an additional 4,255 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Procore Technologies were worth $1,949,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Raymond James & Associates increased 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 worth $3,194,000 after acquiring an additional 42,154 shares during the last quarter. Fifth Third Bancorp raised its stake in Procore Technologies by 10.5% during the fourth quarter. Fifth Third Bancorp now owns 6,900 shares of the company’s stock valued at $478,000 after purchasing an additional 654 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in Procore Technologies during the fourth quarter valued at $265,000. International Assets Investment Management LLC lifted its position in Procore Technologies by 6,823.1% during the fourth 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. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Procore Technologies in the 4th quarter worth $1,044,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Procore Technologies

In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $66.17, for a total transaction of $4,499,560.00. Following the sale, the chief executive officer now owns 528,699 shares in the company, valued at $34,984,012.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Craig F. Jr. Courtemanche sold 22,483 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $70.17, for a total value of $1,577,632.11. Following the sale, the chief executive officer now owns 866,718 shares in the company, valued at $60,817,602.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $66.17, for a total transaction of $4,499,560.00. Following the transaction, the chief executive officer now directly owns 528,699 shares of the company’s stock, valued at $34,984,012.83. The disclosure for this sale can be found here. Insiders sold 238,511 shares of company stock valued at $16,024,349 in the last quarter. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Stock Down 1.3 %

Shares of PCOR stock traded down $0.71 during mid-day trading on Wednesday, hitting $52.24. 1,863,629 shares of the stock traded hands, compared to its average volume of 1,479,248. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35. The stock has a market cap of $7.64 billion, a P/E ratio of -54.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The stock’s fifty day moving average is $66.08 and its two-hundred day moving average is $71.20.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.21%. The company had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $275.26 million. During the same quarter in the prior year, the company posted ($0.28) earnings per share. Procore Technologies’s revenue for the quarter was up 24.4% compared to the same quarter last year. Equities analysts predict that Procore Technologies, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on PCOR. Mizuho reiterated a “neutral” rating and issued a $70.00 price target (down previously from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th. BMO Capital Markets dropped their price objective on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. TD Cowen initiated coverage on Procore Technologies in a research note on Wednesday, June 12th. They issued a “buy” rating and a $85.00 target price on the stock. Macquarie reissued a “neutral” rating and set a $70.00 target price on shares of Procore Technologies in a research note on Tuesday, July 30th. Finally, Canaccord Genuity Group decreased their price objective on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and an average target price of $69.31.

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.