Man Group plc Buys 26,383 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Man Group plc boosted its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 42.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 88,071 shares of the company's stock after purchasing an additional 26,383 shares during the period. Man Group plc owned about 0.06% of Procore Technologies worth $6,599,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCOR. Principal Financial Group Inc. boosted its holdings in Procore Technologies by 29,376.1% in the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the period. Capital World Investors lifted its position in shares of Procore Technologies by 453.6% during the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company's stock valued at $233,704,000 after acquiring an additional 2,555,612 shares during the period. Wellington Management Group LLP bought a new position in Procore Technologies in the 4th quarter valued at about $131,840,000. Champlain Investment Partners LLC bought a new stake in Procore Technologies during the fourth quarter worth $105,747,000. Finally, Alliancebernstein L.P. increased its stake in shares of Procore Technologies by 474.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,409,499 shares of the company's stock valued at $105,614,000 after purchasing an additional 1,164,074 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Procore Technologies Stock Performance

PCOR traded down $0.37 during midday trading on Friday, reaching $67.30. The company had a trading volume of 1,188,732 shares, compared to its average volume of 1,718,696. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The business has a 50-day moving average price of $64.91 and a two-hundred day moving average price of $72.72. The stock has a market cap of $10.04 billion, a PE ratio of -93.47 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group lowered their target price on Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays boosted their target price on shares of Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. KeyCorp dropped their price target on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Mizuho cut their price objective on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, DA Davidson raised Procore Technologies to a "hold" rating in a report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.24.

Insiders Place Their Bets

In other news, insider Benjamin C. Singer sold 4,203 shares of Procore Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $68.91, for a total transaction of $289,628.73. Following the completion of the sale, the insider now owns 102,057 shares in the company, valued at approximately $7,032,747.87. This trade represents a 3.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 7,700 shares of the firm'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 completion of the sale, the director now directly owns 1,208,284 shares in the company, valued at $68,473,454.28. This represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,623 shares of company stock worth $3,144,659 over the last quarter. 29.00% of the stock is currently owned by company 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.