Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by KBC Group NV

KBC Group NV lowered its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 90.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,462 shares of the company's stock after selling 40,471 shares during the period. KBC Group NV's holdings in Procore Technologies were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PCOR. Huntington National Bank increased its position in shares of Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after acquiring an additional 404 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Procore Technologies by 1,434.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock valued at $54,000 after acquiring an additional 674 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Procore Technologies in the 4th quarter valued at $56,000. Aster Capital Management DIFC Ltd increased its position in shares of 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 acquiring an additional 544 shares during the period. Finally, Ancora Advisors LLC increased its position in shares of Procore Technologies by 10,625.0% in the 4th quarter. Ancora Advisors LLC now owns 858 shares of the company's stock valued at $64,000 after acquiring an additional 850 shares during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler cut their target price on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Macquarie cut their target price on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. KeyCorp cut their price target on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group cut their price target on Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Barclays increased their price target on Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Procore Technologies has an average rating of "Moderate Buy" and a consensus target price of $80.83.

Procore Technologies Price Performance

Procore Technologies stock traded up $1.24 during midday trading on Tuesday, reaching $72.76. The company had a trading volume of 259,520 shares, compared to its average volume of 1,658,718. The company has a market capitalization of $10.85 billion, a P/E ratio of -84.60 and a beta of 0.89. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The firm's fifty day simple moving average is $67.59 and its 200-day simple moving average is $70.62. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.19.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The firm had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same period last year, the company posted $0.30 EPS. Procore Technologies's quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 4,203 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total value of $289,628.73. Following the transaction, the insider directly owned 102,057 shares of the company's stock, valued at $7,032,747.87. This trade represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the firm'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 transaction of $12,485,922.28. Following the completion of the transaction, the insider directly owned 3,137,255 shares in the company, valued at $203,168,633.80. This trade represents a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 660,412 shares of company stock worth $42,834,653. 29.00% of the stock is currently owned by insiders.

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.