Elwood Capital Partners LP Has $2.41 Million Stock Position in Procore Technologies, Inc. $PCOR

Elwood Capital Partners LP boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 24.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,276 shares of the company’s stock after buying an additional 7,000 shares during the period. Procore Technologies makes up about 1.9% of Elwood Capital Partners LP’s investment portfolio, making the stock its 13th largest position. Elwood Capital Partners LP’s holdings in Procore Technologies were worth $2,414,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PCOR. Northwestern Mutual Wealth Management Co. increased its position in Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after acquiring an additional 385 shares during the period. SVB Wealth LLC bought a new stake in Procore Technologies in the 1st quarter valued at $49,000. Hilltop National Bank acquired a new stake in Procore Technologies in the 2nd quarter worth $62,000. Elevation Point Wealth Partners LLC bought a new position in shares of Procore Technologies during the 2nd quarter worth about $68,000. Finally, AlphaQuest LLC increased its holdings in shares of Procore Technologies by 58.7% during the 1st quarter. AlphaQuest LLC now owns 1,858 shares of the company’s stock worth $123,000 after purchasing an additional 687 shares during the period. 81.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $75.30, for a total transaction of $753,000.00. Following the sale, the executive directly owned 184,128 shares of the company’s stock, valued at approximately $13,864,838.40. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin C. Singer sold 4,204 shares of Procore Technologies stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $69.21, for a total transaction of $290,958.84. Following the completion of the transaction, the insider owned 75,676 shares of the company’s stock, valued at $5,237,535.96. This trade represents a 5.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 416,957 shares of company stock worth $30,494,876 in the last quarter. 21.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCOR. BMO Capital Markets increased their target price on shares of Procore Technologies from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. KeyCorp upped their price target on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Berenberg Bank started coverage on Procore Technologies in a report on Friday, October 3rd. They set a “buy” rating and a $84.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.47.

Procore Technologies Trading Down 3.1%

PCOR stock opened at $74.43 on Friday. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $74.16 and its 200-day moving average is $70.90. The firm has a market cap of $11.57 billion, a P/E ratio of -88.61 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The company had revenue of $172.21 million during the quarter. Equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.