Maestria Partners LLC Sells 12,900 Shares of Procore Technologies, Inc. $PCOR

Maestria Partners LLC cut its position in Procore Technologies, Inc. (NYSE:PCOR) by 7.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,240 shares of the company’s stock after selling 12,900 shares during the quarter. Procore Technologies comprises about 3.6% of Maestria Partners LLC’s portfolio, making the stock its 13th biggest holding. Maestria Partners LLC owned approximately 0.10% of Procore Technologies worth $10,348,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PCOR. JPMorgan Chase & Co. boosted its stake 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. Allspring Global Investments Holdings LLC boosted its stake in Procore Technologies by 134.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,151,867 shares of the company’s stock valued at $77,901,000 after purchasing an additional 660,726 shares during the period. Wellington Management Group LLP boosted its stake in Procore Technologies by 25.6% in the 1st quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company’s stock valued at $145,954,000 after purchasing an additional 451,238 shares during the period. Nuveen LLC bought a new stake in Procore Technologies in the 1st quarter valued at $26,224,000. Finally, Durable Capital Partners LP boosted its stake in Procore Technologies by 83.3% in the 1st quarter. Durable Capital Partners LP now owns 825,120 shares of the company’s stock valued at $54,474,000 after purchasing an additional 375,020 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PCOR. BMO Capital Markets boosted their price target on Procore Technologies from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Berenberg Bank initiated coverage on Procore Technologies in a research report on Friday, October 3rd. They set a “buy” rating and a $84.00 target price for the company. Stifel Nicolaus upped 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. Barclays upped their target price on Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Finally, Citizens Jmp downgraded Procore Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.11.

Procore Technologies Price Performance

Shares of PCOR stock opened at $69.77 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a twelve month low of $53.71 and a twelve month high of $88.92. The company has a market cap of $10.48 billion, a P/E ratio of -72.68 and a beta of 0.90. The business has a fifty day simple moving average of $68.98 and a 200 day simple moving average of $67.73.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share for the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The business had revenue of $172.21 million for the quarter. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Howard Fu sold 814 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $74.35, for a total value of $60,520.90. Following the completion of the sale, the chief financial officer owned 197,457 shares of the company’s stock, valued at approximately $14,680,927.95. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 7,692 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $66.28, for a total value of $509,825.76. Following the completion of the sale, the director directly owned 1,146,405 shares of the company’s stock, valued at approximately $75,983,723.40. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,422 shares of company stock valued at $1,685,658 in the last 90 days. Corporate insiders own 21.50% of the company’s stock.

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.