Truist Financial Corp Sells 623 Shares of Procore Technologies, Inc. $PCOR

Truist Financial Corp decreased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,982 shares of the company’s stock after selling 623 shares during the quarter. Truist Financial Corp’s holdings in Procore Technologies were worth $4,309,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Procore Technologies by 84.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company’s stock valued at $215,195,000 after purchasing an additional 1,492,869 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Procore Technologies by 3.1% in the first quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company’s stock valued at $182,365,000 after buying an additional 82,311 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Procore Technologies by 25.6% in the first quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company’s stock valued at $145,954,000 after buying an additional 451,238 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Procore Technologies by 7.2% during the first quarter. Westfield Capital Management Co. LP now owns 1,879,226 shares of the company’s stock valued at $124,067,000 after buying an additional 126,070 shares during the last quarter. Finally, RGM Capital LLC increased its position in shares of Procore Technologies by 9.3% during the first quarter. RGM Capital LLC now owns 1,790,402 shares of the company’s stock worth $118,202,000 after acquiring an additional 153,039 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Stock Performance

Shares of PCOR opened at $71.56 on Wednesday. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s fifty day moving average price is $68.77 and its two-hundred day moving average price is $67.70. The firm has a market cap of $10.75 billion, a PE ratio of -74.54 and a beta of 0.90.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PCOR. Barclays raised their price target on shares of Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Robert W. Baird raised their target price on Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Stifel Nicolaus lifted their target price on Procore Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Piper Sandler increased their price target on Procore Technologies from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, KeyCorp lifted their price objective on shares of Procore Technologies from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Fourteen 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.11.

Insider Activity at Procore Technologies

In related news, CFO Howard Fu sold 796 shares of Procore Technologies stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $71.02, for a total value of $56,531.92. Following the completion of the transaction, the chief financial officer directly owned 188,661 shares in the company, valued at approximately $13,398,704.22. The trade was a 0.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 7,692 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $72.57, for a total transaction of $558,208.44. Following the sale, the director directly owned 1,123,329 shares in the company, valued at $81,519,985.53. The trade was a 0.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,957 shares of company stock worth $2,604,570. 21.50% of the stock is owned by corporate insiders.

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.