Amundi Reduces Stock Holdings in Procore Technologies, Inc. $PCOR

Amundi cut its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,128 shares of the company's stock after selling 69,149 shares during the period. Amundi owned approximately 0.19% of Procore Technologies worth $17,385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Procore Technologies by 84.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company's stock worth $215,195,000 after acquiring an additional 1,492,869 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Procore Technologies by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company's stock worth $182,365,000 after acquiring an additional 82,311 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Procore Technologies by 14.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock worth $196,873,000 after acquiring an additional 322,367 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Procore Technologies by 25.6% in the 1st quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company's stock worth $145,954,000 after acquiring an additional 451,238 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of Procore Technologies by 7.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,879,226 shares of the company's stock worth $124,067,000 after acquiring an additional 126,070 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Insider Transactions at Procore Technologies

In other news, Director William J.G. Griffith sold 309,168 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $64.76, for a total value of $20,021,719.68. Following the transaction, the director owned 1,893,458 shares in the company, valued at $122,620,340.08. The trade was a 14.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 8,035 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $72.36, for a total value of $581,412.60. Following the completion of the transaction, the director owned 1,154,097 shares in the company, valued at approximately $83,510,458.92. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 664,449 shares of company stock worth $43,235,011. 21.50% of the stock is owned by insiders.

Procore Technologies Stock Performance

Shares of NYSE PCOR traded down $1.49 during midday trading on Wednesday, reaching $68.55. The company's stock had a trading volume of 894,440 shares, compared to its average volume of 1,380,910. Procore Technologies, Inc. has a 12-month low of $52.78 and a 12-month high of $88.92. The firm has a 50 day moving average price of $69.24 and a 200-day moving average price of $67.75. The stock has a market capitalization of $10.29 billion, a P/E ratio of -71.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The firm had revenue of $323.92 million for the quarter, compared to the consensus estimate of $311.91 million. During the same quarter in the previous year, the business earned $0.39 EPS. The company's revenue was up 13.9% compared to the same quarter last year. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Arete began coverage on Procore Technologies in a research report on Monday, June 16th. They issued a "buy" rating and a $91.00 price objective for the company. Piper Sandler boosted their target price on Procore Technologies from $75.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Citizens Jmp lowered Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. KeyCorp boosted their price objective on Procore Technologies from $77.00 to $81.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, JMP Securities reissued a "market perform" rating and set a $95.00 price objective on shares of Procore Technologies in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $83.06.

Procore Technologies 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.