Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Principal Securities Inc.

Principal Securities Inc. cut its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 35.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,299 shares of the company’s stock after selling 1,249 shares during the quarter. Principal Securities Inc.’s holdings in Procore Technologies were worth $172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PCOR. Assenagon Asset Management S.A. boosted its position in shares of Procore Technologies by 99.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after purchasing an additional 1,425,967 shares during the period. Meritage Group LP increased its position in shares of Procore Technologies by 66.6% in the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after acquiring an additional 1,098,019 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after acquiring an additional 1,297,151 shares during the period. Holocene Advisors LP lifted its position in shares of Procore Technologies by 1.1% in the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock valued at $115,623,000 after acquiring an additional 21,234 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Procore Technologies by 13.2% in the 3rd quarter. State Street Corp now owns 1,810,895 shares of the company’s stock valued at $111,768,000 after acquiring an additional 211,590 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the completion of the sale, the executive now owns 161,368 shares in the company, valued at approximately $13,380,634.56. This trade represents a 6.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 33,332 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total value of $2,730,890.76. Following the sale, the director now owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,311 shares of company stock worth $7,720,903 over the last three months. 29.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a report on Friday, February 14th. Robert W. Baird raised their price objective on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Stifel Nicolaus upped their target price on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Scotiabank boosted their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research report on Friday, November 22nd. Finally, Piper Sandler lifted their target price on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.94.

Procore Technologies Price Performance

NYSE PCOR opened at $80.41 on Tuesday. The company has a market cap of $11.95 billion, a P/E ratio of -111.68 and a beta of 0.84. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. 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 fifty day simple moving average of $78.14 and a 200 day simple moving average of $69.80.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. On average, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 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.