Procore Technologies, Inc. (NYSE:PCOR) Stock Holdings Lessened by Alfreton Capital LLP

Key Points

• Alfreton Capital LLP reduced its shareholding in Procore Technologies by 11.5%, now holding 575,000 shares worth approximately $37.96 million, making it the firm’s 5th largest position.
• Several analysts have upgraded their price targets for Procore Technologies, with a new average target of $82.50 and a general rating of "Moderate Buy."
• Procore Technologies shares have declined 13.4%, with current stock trading at $62.06, despite reporting better-than-expected earnings of $0.35 per share.

Alfreton Capital LLP decreased its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 11.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 575,000 shares of the company's stock after selling 75,000 shares during the quarter. Procore Technologies accounts for 12.1% of Alfreton Capital LLP's portfolio, making the stock its 5th biggest holding. Alfreton Capital LLP owned approximately 0.39% of Procore Technologies worth $37,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Huntington National Bank boosted its stake in shares of Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after buying an additional 404 shares during the last quarter. Aster Capital Management DIFC Ltd raised its position in Procore Technologies by 181.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock valued at $63,000 after purchasing an additional 544 shares during the last quarter. Ancora Advisors LLC raised its holdings in shares of Procore Technologies by 10,625.0% in the fourth quarter. Ancora Advisors LLC now owns 858 shares of the company's stock valued at $64,000 after buying an additional 850 shares during the last quarter. Versant Capital Management Inc raised its holdings in Procore Technologies by 174.2% during the first quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock worth $66,000 after purchasing an additional 636 shares in the last quarter. Finally, GeoWealth Management LLC acquired a new stake in Procore Technologies in the fourth quarter valued at $78,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Trading Down 1.5%

NYSE:PCOR traded down $0.93 on Thursday, reaching $62.74. The company's stock had a trading volume of 173,562 shares, compared to its average volume of 1,450,198. The firm has a market cap of $9.42 billion, a PE ratio of -65.32 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $52.15 and a 1-year high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.29. The business's 50-day moving average price is $69.42 and its two-hundred day moving average price is $69.98.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The company had revenue of $323.92 million for the quarter, compared to the consensus estimate of $311.91 million. During the same period last year, the company earned $0.39 earnings per share. The firm's revenue was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity

In other Procore Technologies news, Director Kathryn Bueker sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $72.43, for a total transaction of $507,010.00. Following the transaction, the director owned 16,932 shares in the company, valued at $1,226,384.76. This represents a 29.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 8,035 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $72.36, for a total value of $581,412.60. Following the sale, the director directly owned 1,154,097 shares in the company, valued at $83,510,458.92. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 672,447 shares of company stock valued at $43,878,843. 29.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PCOR. UBS Group reduced their target price on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. BMO Capital Markets boosted their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Citizens Jmp cut shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 1st. JMP Securities restated a "market perform" rating and issued a $95.00 target price on shares of Procore Technologies in a research note on Friday, August 1st. Finally, DA Davidson began coverage on Procore Technologies in a research note on Monday. They issued a "neutral" rating and a $70.00 price target on the stock. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $83.06.

About Procore Technologies

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.