Edmond DE Rothschild Holding S.A. Buys New Position in Procore Technologies, Inc. $PCOR

Edmond DE Rothschild Holding S.A. bought a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 81,083 shares of the company’s stock, valued at approximately $3,294,000.

Several other institutional investors have also bought and sold shares of PCOR. Madison Asset Management LLC purchased a new stake in Procore Technologies in the 2nd quarter valued at $3,036,000. Diversify Advisory Services LLC purchased a new position in Procore Technologies during the 2nd quarter worth $531,000. Citizens Financial Group Inc. RI purchased a new position in Procore Technologies during the 2nd quarter worth $964,000. BlackRock Inc. bought a new stake in shares of Procore Technologies in the 2nd quarter worth $300,345,000. Finally, Deutsche Bank AG purchased a new stake in shares of Procore Technologies in the second quarter valued at about $114,444,000. Institutional investors own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In related news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $45.14, for a total value of $2,533,347.08. Following the sale, the chairman directly owned 919,704 shares in the company, valued at approximately $41,515,438.56. The trade was a 5.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 15,386 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $54.93, for a total transaction of $845,152.98. Following the sale, the director directly owned 946,746 shares in the company, valued at approximately $52,004,757.78. This trade represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 224,199 shares of company stock worth $11,083,445 over the last 90 days. 16.80% of the stock is owned by insiders.

Procore Technologies Trading Up 0.1%

Procore Technologies stock opened at $63.01 on Friday. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $82.32. The business’s 50 day simple moving average is $47.76 and its 200 day simple moving average is $51.10. The company has a market cap of $9.57 billion, a price-to-earnings ratio of -242.35 and a beta of 0.70.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $375.21 million during the quarter, compared to the consensus estimate of $365.82 million. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share. As a group, equities research analysts forecast that Procore Technologies, Inc. will post 0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on PCOR. Citizens Jmp raised shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target on the stock in a research report on Wednesday, April 29th. Citigroup reaffirmed a “market outperform” rating on shares of Procore Technologies in a research report on Tuesday, July 21st. Jefferies Financial Group decreased their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. BTIG Research reissued a “buy” rating and set a $66.00 target price on shares of Procore Technologies in a research report on Friday, July 24th. Finally, Guggenheim began coverage on Procore Technologies in a research note on Thursday, July 23rd. They issued a “buy” rating and a $68.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.44.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.