12,900 Shares of Procore Technologies, Inc. $PCOR Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,900 shares of the company’s stock, valued at approximately $667,000.

Other large investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP bought a new stake in Procore Technologies during the second quarter worth about $40,000. Global Retirement Partners LLC bought a new position in shares of Procore Technologies in the second quarter valued at approximately $52,000. Canton Hathaway LLC bought a new position in shares of Procore Technologies in the third quarter valued at approximately $69,000. Versant Capital Management Inc raised its stake in shares of Procore Technologies by 50.3% in the second quarter. Versant Capital Management Inc now owns 1,581 shares of the company’s stock valued at $64,000 after acquiring an additional 529 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Procore Technologies by 586.7% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,218 shares of the company’s stock worth $115,000 after acquiring an additional 1,895 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCOR has been the subject of a number of recent analyst reports. Barclays raised their price target on Procore Technologies from $62.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group boosted their price objective on Procore Technologies from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research increased their target price on Procore Technologies from $66.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup restated a “market outperform” rating on shares of Procore Technologies in a research note on Monday, October 26th. Finally, BMO Capital Markets lifted their price target on Procore Technologies from $56.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.35.

Procore Technologies Trading Down 0.4%

Shares of Procore Technologies stock traded down $0.28 during midday trading on Friday, reaching $75.33. The company had a trading volume of 4,049,430 shares, compared to its average volume of 3,008,882. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of -327.49 and a beta of 0.75. The stock has a fifty day simple moving average of $57.53 and a 200 day simple moving average of $53.50. Procore Technologies, Inc. has a 1-year low of $38.03 and a 1-year high of $80.40.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%. The firm had revenue of $402.31 million for the quarter, compared to the consensus estimate of $384.38 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. Sell-side analysts expect that Procore Technologies, Inc. will post 0.44 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Craig Courtemanche, Jr. sold 56,122 shares of the business’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $56.19, for a total transaction of $3,153,495.18. Following the completion of the sale, the chairman owned 908,316 shares in the company, valued at $51,038,276.04. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin O’Connor sold 7,692 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $54.53, for a total value of $419,444.76. Following the transaction, the director directly owned 900,594 shares in the company, valued at $49,109,390.82. This trade represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 212,808 shares of company stock worth $12,026,454. 16.80% of the stock is currently owned by company insiders.

Procore Technologies News Summary

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Procore reported Q3 earnings of $0.51 per share, topping estimates of about $0.45–$0.46. Revenue rose 18.7% year over year to $402.3 million, also exceeding expectations. Shares climbed 12.4% following the earnings beat. Procore shares climb following earnings beat
• Positive Sentiment: Several firms raised their price targets and maintained or issued bullish ratings. Citizens JMP lifted its target to $91, while UBS raised its target to $95 and reiterated Buy; Loop Capital also upgraded the stock from Hold to Buy with a $93 target. These actions signal stronger analyst confidence after the results. Citizens JMP raises Procore price target
• Neutral Sentiment: A Procore director sold 7,692 shares under a pre-arranged Rule 10b5-1 trading plan. The sale was a small reduction in his holdings, which remained substantial after the transaction. Director share sale

About Procore Technologies

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company’s technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore’s products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.