Acadian Asset Management LLC significantly reduced its shareholding in Procore Technologies, Inc. (NYSE: PCOR) during the first quarter of 2025, as reported in its recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm trimmed its stake by 88.7%, selling 674,164 shares and now holds 86,080 shares, valued at approximately $5.68 million.
This reduction marks a notable shift for Acadian, which previously had a larger position in the company. Institutional investors remain heavily involved, with around 81.10% of Procore’s stock owned by such entities. Other firms have also made moves regarding their stakes in Procore, reflecting ongoing interest in the construction management software provider.
Brighton Jones LLC entered the Procore landscape in the fourth quarter with a new investment worth about $511,000. BNP Paribas Financial Markets also acquired a new stake during the same period, valued at around $1.06 million. Captrust Financial Advisors and Cetera Investment Advisers increased their holdings as well, with Cetera lifting its position by an impressive 497.0%.
Insider Transactions and Market Performance
In related developments, two directors at Procore Technologies engaged in notable insider trading on July 10, 2025. Director Connor Kevin J. O sold 8,035 shares at an average price of $72.36, totaling approximately $581,412.60. Following this transaction, he retained 1,154,097 shares, valued at around $83.51 million, representing a 0.69% decrease in his holding.
Another insider, Benjamin C. Singer, sold 4,500 shares at an average price of $75.00, generating about $337,500. After this sale, Singer owned 97,557 shares, valued at approximately $7.32 million, marking a 4.41% reduction in his stake. Over the past 90 days, Procore insiders have sold a total of 43,613 shares worth around $3.03 million.
Procore Technologies’ stock opened at $69.67 on July 10, 2025, reflecting a 1.3% decline. The firm has experienced a year low of $53.71 and a high of $88.92, with a market capitalization of $10.46 billion and a price-to-earnings ratio of -72.57.
Financial Outlook and Analyst Ratings
In its latest quarterly earnings report released on July 31, 2025, Procore Technologies announced earnings of $0.35 per share, surpassing analysts’ expectations of $0.24 by $0.11. The company reported revenues of $323.92 million, exceeding the anticipated $311.91 million and representing a year-on-year growth of 13.9%.
Looking ahead, Procore has provided guidance for fiscal year 2025, anticipating an earnings per share figure that analysts project to be around -0.15.
Research analysts have been active in adjusting their ratings and price targets for Procore Technologies. Arete initiated coverage with a “buy” rating and a target price of $91.00. Meanwhile, JMP Securities reaffirmed a “market perform” rating with a target of $95.00. Other firms, including KeyCorp and DA Davidson, have also revised their outlooks.
Currently, the consensus rating for Procore Technologies is “Moderate Buy,” with an average target price of $83.06.
Procore Technologies, Inc. operates a cloud-based construction management platform, facilitating collaboration among various stakeholders in the construction industry. As the sector continues to evolve, the firm remains a key player in providing innovative solutions for project management.