LMR Partners LLP Invests $17.10 Million in Procore Technologies, Inc. (NYSE:PCOR)

LMR Partners LLP bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 277,000 shares of the company's stock, valued at approximately $17,096,000. LMR Partners LLP owned about 0.19% of Procore Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Procore Technologies by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company's stock valued at $764,111,000 after purchasing an additional 94,190 shares during the period. Covestor Ltd boosted its stake in shares of Procore Technologies by 29.3% in the 1st quarter. Covestor Ltd now owns 1,324 shares of the company's stock valued at $109,000 after purchasing an additional 300 shares during the last quarter. Seven Eight Capital LP increased its position in shares of Procore Technologies by 13.3% during the first quarter. Seven Eight Capital LP now owns 16,516 shares of the company's stock worth $1,357,000 after buying an additional 1,939 shares during the period. Twin Capital Management Inc. bought a new position in Procore Technologies during the first quarter worth $867,000. Finally, Meritage Group LP acquired a new position in Procore Technologies in the first quarter valued at $106,738,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCOR has been the subject of several research analyst reports. Baird R W raised Procore Technologies to a "strong-buy" rating in a research report on Tuesday, September 24th. The Goldman Sachs Group dropped their price target on Procore Technologies from $85.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. Macquarie reaffirmed a "neutral" rating and set a $70.00 price objective on shares of Procore Technologies in a research report on Tuesday, July 30th. Robert W. Baird began coverage on shares of Procore Technologies in a research report on Tuesday, September 24th. They set an "outperform" rating and a $73.00 target price on the stock. Finally, DA Davidson restated a "neutral" rating and issued a $60.00 price target on shares of Procore Technologies in a report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.25.

Insider Buying and Selling

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,993 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $1,359,806.02. Following the sale, the chief executive officer now directly owns 793,123 shares of the company's stock, valued at $46,905,294.22. This represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $70.47, for a total transaction of $361,370.16. Following the completion of the transaction, the director now directly owns 1,335,208 shares of the company's stock, valued at approximately $94,092,107.76. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,695 shares of company stock worth $6,844,893. Insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

Shares of PCOR stock traded down $0.04 during trading on Monday, hitting $69.11. The company's stock had a trading volume of 735,835 shares, compared to its average volume of 1,571,557. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $10.27 billion, a PE ratio of -137.20 and a beta of 0.71. The business has a fifty day moving average of $62.53 and a 200-day moving average of $63.78. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $83.35.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, research analysts anticipate that Procore Technologies, Inc. will post -0.23 earnings per share 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.