KBC Group NV Sells 40,471 Shares of Procore Technologies, Inc. (NYSE:PCOR)

KBC Group NV cut its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 90.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,462 shares of the company's stock after selling 40,471 shares during the quarter. KBC Group NV's holdings in Procore Technologies were worth $295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after buying an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Procore Technologies by 1,434.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock worth $54,000 after buying an additional 674 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Procore Technologies during the 4th quarter worth about $56,000. Aster Capital Management DIFC Ltd lifted its position in Procore Technologies by 181.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock worth $63,000 after buying an additional 544 shares in the last quarter. Finally, Ancora Advisors LLC lifted its position in Procore Technologies by 10,625.0% during the 4th quarter. Ancora Advisors LLC now owns 858 shares of the company's stock worth $64,000 after buying an additional 850 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Procore Technologies Stock Performance

Shares of NYSE:PCOR traded up $1.00 on Wednesday, reaching $73.16. 1,779,987 shares of the company's stock were exchanged, compared to its average volume of 1,663,596. The company has a fifty day moving average of $67.94 and a 200-day moving average of $70.64. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of -85.07 and a beta of 0.89. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative return on equity of 6.54% and a negative net margin of 10.73%. The firm had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same quarter last year, the company earned $0.30 EPS. The company's revenue was up 15.3% on a year-over-year basis. On average, research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group dropped 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. Stifel Nicolaus dropped their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. BMO Capital Markets dropped their target price on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Mizuho dropped their target price on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $80.83.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 7,692 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $72.16, for a total transaction of $555,054.72. Following the transaction, the director owned 1,192,900 shares in the company, valued at $86,079,664. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn Bueker sold 7,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $72.43, for a total value of $507,010.00. Following the transaction, the director owned 16,932 shares in the company, valued at approximately $1,226,384.76. This trade represents a 29.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 652,712 shares of company stock worth $42,398,294. 29.00% of the stock is currently owned by insiders.

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.