As indicated in the weekly commentary, we wanted to add marginally to the net long position by opening a tiny investment in MongoDB and adding to the Procore position which had a weight of less than 2%. We wound up buying 60 shares of MongoDB at a price of $241.49. This cost $14,495. That…
I made some relatively small changes in the high growth portfolio. I eliminated the position in Bill-280 shares sold @ $90.29. Bill has appreciated since we entered the shares shortly before the company’s latest earnings release. The earnings that were released were strong; the guidance was, as usual, very cautious, and somewhat less than I might…
We made two changes in the high growth portfolio today. We sold 250 shares of Procore, our entire position at $68.49. This raised $17,110. We were surprised that the shares jumped significantly after the quarterly earnings report. While the quarter was significantly better than the company’s prior projections, its guidance was not. In particular, we…
As foreshadowed in the weekly commentary I have made some portfolio changes. The rationale for these changes was in the weekly commentary. That said, if anyone has questions about why I have made these changes, please let me know and I will answer rapidly. I do not like to make a lot of changes, but…
Summary Procore’s growth has been impacted by rising interest rates, but a falling rate environment could boost user sentiment and increase software spending on software in the construction space. Procore probably has the broadest platform in the construction industry and with new entries into payments, genAI and a push into the channel it has new…
Sale of 300 shares of Procore (entire position); purchase of 100 shares of Shift4, 200 shares of Sentinel One; 100 shares of GitLab; 100 shares of Affirm; 100 Shares of UiPath We made some portfolio changes in the high growth portfolio today. We decided to eliminate the last of the Procore position, selling 300 shares while adding…
Sold 200 shares of Procore and bought 400 shares of GitLab Earlier today we made a change in the Ticker Target High Growth portfolio. We sold 200 shares of Procore, reducing our position to 300 shares and a weighting of 2.5%. We sold the Procore shares at a price of $81.89 and the net proceeds were…
Sales of 100 shares of Veeva (entire position); 200 shares of Procore and 320 Nutanix-Total Sales of Purchase of 300 shares of UiPath; 500 Shares of Nu Holdings; 633 shares of Pagaya; 400 shares of SentinelOne and 30 shares of Zscaler As we indicated in the post we sent on Thursday, we decided to make…
Sale of position in Smartsheet (460 shares); Purchase of 300 shares of SentinelOne, Purchase of new Position-250 shares of Procore In the wake of the earnings Smartsheet reported last evening, we decided to sell our position. I want to make clear that the sale doesn’t reflect either a bad quarter, or bad guidance. The company…
Summary Procore is the leading vendor in the construction industry software space. After quarters of watching, the company saw elongated sales cycles at the end of Q3 and has significantly reduced its growth expectations for this quarter and for 2024. Despite the revenue growth slowdown, the company has been able to achieve significant improvements in…