Qsemble Capital Management LP Has $1.30 Million Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Qsemble Capital Management LP decreased its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 13.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,027 shares of the company’s stock after selling 3,397 shares during the quarter. Qsemble Capital Management LP’s holdings in Procore Technologies were worth $1,298,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PCOR. Dragoneer Investment Group LLC increased its position in shares of Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after purchasing an additional 1,609,607 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Procore Technologies during the third quarter worth about $88,572,000. XN LP increased its holdings in Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after buying an additional 1,411,812 shares during the period. Millennium Management LLC raised its position in shares of Procore Technologies by 1,016.0% in the 2nd quarter. Millennium Management LLC now owns 914,534 shares of the company’s stock valued at $60,643,000 after buying an additional 832,583 shares in the last quarter. Finally, RGM Capital LLC bought a new stake in shares of Procore Technologies during the 2nd quarter worth approximately $44,203,000. Institutional investors own 81.10% of the company’s stock.

Insider Activity at Procore Technologies

In other news, Director Connor Kevin J. O sold 8,974 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total transaction of $521,030.44. Following the completion of the sale, the director now owns 1,371,104 shares of the company’s stock, valued at $79,606,298.24. This trade represents a 0.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Howard Fu sold 1,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the transaction, the chief financial officer now owns 171,997 shares in the company, valued at $12,340,784.75. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,053 shares of company stock worth $7,426,909 over the last quarter. Company insiders own 29.00% of the company’s stock.

Procore Technologies Trading Up 4.6 %

Shares of PCOR stock opened at $80.24 on Tuesday. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $83.35. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of -160.48 and a beta of 0.71. The stock has a 50-day moving average of $64.64 and a 200-day moving average of $64.00.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus lifted their price target on Procore Technologies from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird started coverage on Procore Technologies in a report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price target for the company. Jefferies Financial Group raised 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. Finally, Baird R W raised Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and an average price target 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.