Legal & General Group Plc Invests $4.26 Million in Procore Technologies, Inc. $PCOR

Legal & General Group Plc bought a new stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 104,991 shares of the company's stock, valued at approximately $4,265,000. Legal & General Group Plc owned approximately 0.07% of Procore Technologies as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. SJS Investment Consulting Inc. lifted its holdings in Procore Technologies by 7,100.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company's stock worth $25,000 after buying an additional 426 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Procore Technologies during the third quarter worth about $34,000. Twin Tree Management LP acquired a new stake in shares of Procore Technologies in the second quarter valued at approximately $40,000. Allworth Financial LP raised its stake in Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company's stock valued at $46,000 after acquiring an additional 204 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Procore Technologies in the second quarter worth about $52,000. Institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCOR. BMO Capital Markets upped their price objective on Procore Technologies from $56.00 to $67.00 and gave the company an "outperform" rating in a report on Friday, July 31st. UBS Group raised their price target on shares of Procore Technologies from $68.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Barclays raised their price target on Procore Technologies from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Guggenheim assumed coverage on shares of Procore Technologies in a research note on Thursday, July 23rd. They issued a "buy" rating and a $68.00 price objective for the company. Finally, BTIG Research reaffirmed a "buy" rating and set a $66.00 target price on shares of Procore Technologies in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.44.

Insider Buying and Selling

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $43.90, for a total transaction of $2,463,755.80. Following the sale, the chairman directly owned 919,704 shares in the company, valued at approximately $40,375,005.60. This trade represents a 5.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William Fleming, Jr. sold 10,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $58.95, for a total transaction of $589,500.00. Following the completion of the sale, the senior vice president directly owned 104,981 shares in the company, valued at $6,188,629.95. This represents a 8.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 231,892 shares of company stock valued at $11,613,268 in the last 90 days. 16.80% of the stock is owned by insiders.

Procore Technologies Stock Performance

NYSE PCOR opened at $57.93 on Friday. Procore Technologies, Inc. has a 52 week low of $38.03 and a 52 week high of $82.32. The stock has a market capitalization of $8.80 billion, a P/E ratio of -222.81 and a beta of 0.74. The stock has a fifty day moving average of $52.40 and a 200-day moving average of $51.86.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The company had revenue of $375.21 million during the quarter, compared to analysts' expectations of $365.82 million. During the same quarter in the previous year, the company posted $0.35 EPS. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. Equities research analysts forecast that Procore Technologies, Inc. will post 0.41 earnings per share for the current fiscal 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

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