Principal Financial Group Inc. Acquires 127,256 Shares of Procore Technologies, Inc. $PCOR

Key Points

• Principal Financial Group increased its stake in Procore by 127,256 shares (a 3.9% add) to 3,428,825 shares, representing about 2.21% of the company and valued at roughly $249.4 million at quarter-end.
• Procore beat Q1 revenue expectations with $359.3M (up ~15.7% YoY) but missed EPS ($0.34 vs. $0.36) and provided Q2 guidance that was roughly in line or slightly light, generating heavy intraday volatility and prompting analyst price-target cuts.
• Company insiders have been net sellers recently (148,026 shares sold in the last 90 days), including the chairman and a director, while insiders still own about 16.8% of the stock.

Principal Financial Group Inc. increased its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,428,825 shares of the company's stock after purchasing an additional 127,256 shares during the period. Principal Financial Group Inc. owned approximately 2.21% of Procore Technologies worth $249,416,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PCOR. Global Retirement Partners LLC raised its holdings in shares of Procore Technologies by 465.2% in the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company's stock worth $28,000 after buying an additional 321 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Procore Technologies in the 3rd quarter valued at $34,000. Jones Financial Companies Lllp boosted its stake in Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company's stock valued at $35,000 after buying an additional 199 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Procore Technologies in the fourth quarter valued at $41,000. Finally, First Horizon Corp bought a new stake in Procore Technologies in the third quarter valued at $49,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Procore Technologies

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Q1 revenue beat and healthy growth — Procore reported roughly $349M in revenue, up ~15–16% year-over-year and above consensus, a core positive for a SaaS growth story. Procore Technologies NYSE: PCOR Beats Q1 CY2026 Sales Expectations But Stock Drops
• Positive Sentiment: New AI board appointment and commentary on narrowing losses — management highlighted progress on margin improvement and added an AI-focused board development that initially drove optimism about product-led monetization and differentiation. Why Procore Technologies (PCOR) Is Up 11.6% After Narrower Losses And New AI Board Appointment - And What's Next
• Neutral Sentiment: Management reiterated/raised its full-year outlook in the press release, signaling confidence, but investors focused on the near‑term guide and margins for direction. Procore Announces First Quarter 2026 Financial Results
• Neutral Sentiment: Full earnings call transcript is available for deeper read on bookings, churn and AI roadmap — useful for investors wanting color beyond GAAP metrics. Procore Technologies, Inc. (PCOR) Q1 2026 Earnings Call Transcript
• Negative Sentiment: EPS slightly missed consensus — Procore reported $0.34 EPS (improved year-over-year) but missed the Street (~$0.36), which undercut the initial rally and prompted selling. Procore Technologies (PCOR) Lags Q1 Earnings Estimates
• Negative Sentiment: Q2 revenue guidance came in slightly light or in line with consensus (range ~$364–366M vs ~366.1M consensus), removing upside surprise risk and contributing to downside pressure. Procore Q1 press release and guidance (MarketBeat link)
• Negative Sentiment: Volatility and heavy volume — the mix of a revenue beat with an EPS miss and a cautious near-term guide produced large intraday swings and selling pressure as traders re‑priced near-term execution risk. Procore Technologies NYSE: PCOR Beats Q1 CY2026 Sales Expectations But Stock Drops

Wall Street Analyst Weigh In

PCOR has been the subject of a number of analyst reports. Barclays cut their price objective on Procore Technologies from $90.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, February 13th. Canaccord Genuity Group dropped their target price on shares of Procore Technologies from $90.00 to $72.00 and set a "buy" rating for the company in a research report on Friday, February 13th. UBS Group cut their price target on shares of Procore Technologies from $87.00 to $74.00 and set a "buy" rating for the company in a report on Tuesday, February 3rd. Zacks Research upgraded shares of Procore Technologies from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 18th. Finally, Piper Sandler decreased their price objective on shares of Procore Technologies from $91.00 to $79.00 and set an "overweight" rating on the stock in a research note on Friday, February 13th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.75.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $47.64, for a total value of $2,673,652.08. Following the completion of the transaction, the chairman directly owned 927,580 shares of the company's stock, valued at approximately $44,189,911.20. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 5,769 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $51.07, for a total transaction of $294,622.83. Following the transaction, the director owned 990,983 shares in the company, valued at $50,609,501.81. The trade was a 0.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 148,026 shares of company stock worth $7,783,734. 16.80% of the stock is currently owned by corporate insiders.

Procore Technologies Price Performance

Shares of PCOR stock opened at $54.68 on Wednesday. Procore Technologies, Inc. has a 52 week low of $46.08 and a 52 week high of $82.32. The stock has a market capitalization of $8.25 billion, a PE ratio of -81.61 and a beta of 0.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.32. The stock's fifty day moving average is $55.64 and its 200-day moving average is $64.41.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The business had revenue of $359.28 million during the quarter, compared to the consensus estimate of $352.82 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The business's quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities research analysts expect that Procore Technologies, Inc. will post 0.09 EPS 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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