Nomura Holdings Inc. Invests $2.92 Million in Procore Technologies, Inc. $PCOR

Nomura Holdings Inc. acquired a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 44,208 shares of the company’s stock, valued at approximately $2,919,000.

A number of other hedge funds have also modified their holdings of the business. Vident Advisory LLC purchased a new position in shares of Procore Technologies during the 1st quarter worth approximately $251,000. Kodai Capital Management LP purchased a new position in shares of Procore Technologies during the 1st quarter worth approximately $6,449,000. LTS One Management LP purchased a new position in shares of Procore Technologies during the 1st quarter worth approximately $8,913,000. B. Metzler seel. Sohn & Co. AG increased its stake in shares of Procore Technologies by 47.5% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 34,621 shares of the company’s stock worth $2,286,000 after purchasing an additional 11,155 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in shares of Procore Technologies by 10.1% during the 1st quarter. Ieq Capital LLC now owns 256,346 shares of the company’s stock worth $16,924,000 after purchasing an additional 23,449 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $64.76, for a total transaction of $12,485,922.28. Following the transaction, the insider owned 3,137,255 shares of the company’s stock, valued at $203,168,633.80. This trade represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Lawrence Joseph Stack sold 2,500 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $65.33, for a total transaction of $163,325.00. Following the transaction, the executive directly owned 208,288 shares in the company, valued at approximately $13,607,455.04. This represents a 1.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 664,449 shares of company stock valued at $43,235,011 over the last 90 days. 21.50% of the stock is currently owned by insiders.

Procore Technologies Stock Performance

NYSE:PCOR opened at $69.55 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02. The company has a market cap of $10.45 billion, a P/E ratio of -72.45 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $52.78 and a fifty-two week high of $88.92. The firm’s 50 day moving average is $69.16 and its two-hundred day moving average is $68.30.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $323.92 million for the quarter, compared to the consensus estimate of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. Procore Technologies’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PCOR shares. Piper Sandler raised their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Barclays raised their target price on shares of Procore Technologies from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. JMP Securities restated a “market perform” rating and set a $95.00 target price on shares of Procore Technologies in a research report on Friday, August 1st. KeyCorp raised their target price on shares of Procore Technologies from $77.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Robert W. Baird raised their target price on shares of Procore Technologies from $83.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.06.

Procore Technologies Company Profile

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.