Man Group plc Has $6.60 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Man Group plc grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 42.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 88,071 shares of the company's stock after buying an additional 26,383 shares during the period. Man Group plc owned approximately 0.06% of Procore Technologies worth $6,599,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its position in shares of Procore Technologies by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock valued at $1,199,000 after buying an additional 129 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after buying an additional 162 shares during the last quarter. Covestor Ltd raised its position in shares of Procore Technologies by 15.1% during the fourth quarter. Covestor Ltd now owns 1,571 shares of the company's stock valued at $118,000 after buying an additional 206 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its position in shares of Procore Technologies by 4.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 5,438 shares of the company's stock valued at $407,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 7,700 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total transaction of $436,359.00. Following the transaction, the director now directly owns 1,208,284 shares in the company, valued at approximately $68,473,454.28. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the transaction, the executive now owns 161,368 shares in the company, valued at $13,380,634.56. This represents a 6.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,834 shares of company stock worth $5,181,472. Corporate insiders own 29.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PCOR shares. Stifel Nicolaus lowered their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Piper Sandler lowered their target price on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group upped their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Barclays upped their target price on shares of Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Macquarie lowered their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Procore Technologies has an average rating of "Moderate Buy" and an average price target of $80.24.

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $69.88 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of -97.05 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The firm's 50-day moving average price is $64.92 and its two-hundred day moving average price is $72.75.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same period in the prior year, the business earned $0.30 earnings per share. Procore Technologies's quarterly revenue was up 15.3% on a year-over-year basis. On average, equities analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.

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