Route One Investment Company L.P. purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 918,205 shares of the company’s stock, valued at approximately $37,297,000. Procore Technologies comprises 1.5% of Route One Investment Company L.P.’s portfolio, making the stock its 15th biggest position. Route One Investment Company L.P. owned about 0.60% of Procore Technologies at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in shares of Procore Technologies during the 2nd quarter worth approximately $3,176,000. Lead Edge Capital Management LLC purchased a new position in Procore Technologies during the second quarter worth approximately $20,921,372,000. Legal & General Group Plc acquired a new position in Procore Technologies during the second quarter worth $4,265,000. The Manufacturers Life Insurance Company purchased a new stake in Procore Technologies in the 2nd quarter valued at $1,722,000. Finally, Sone Capital Management LLC acquired a new stake in shares of Procore Technologies in the 2nd quarter worth $16,640,000. Institutional investors and hedge funds own 81.10% of the company’s stock.
Insiders Place Their Bets
In related news, Director Connor Kevin J. O sold 7,692 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $54.98, for a total transaction of $422,906.16. Following the transaction, the director owned 939,054 shares of the company’s stock, valued at $51,629,188.92. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of Procore Technologies stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $57.11, for a total value of $3,205,127.42. Following the completion of the transaction, the chairman owned 919,704 shares in the company, valued at $52,524,295.44. This trade represents a 5.75% decrease in their ownership of the stock. 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 228,142 shares of company stock valued at $11,333,234. 16.80% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on Procore Technologies
Procore Technologies Price Performance
Shares of NYSE:PCOR opened at $60.66 on Wednesday. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $82.32. The firm has a market capitalization of $9.22 billion, a P/E ratio of -233.29 and a beta of 0.70. The company’s fifty day moving average price is $48.95 and its 200 day moving average price is $51.28.
Procore Technologies (NYSE:PCOR – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The company had revenue of $375.21 million for the quarter, compared to analyst estimates of $365.82 million. During the same quarter last year, the company posted $0.35 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post 0.09 EPS for the current year.
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. 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.
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