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Principal Financial Group Inc. Buys 82,311 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Procore Technologies logo with Computer and Technology background

Principal Financial Group Inc. boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,762,275 shares of the company's stock after acquiring an additional 82,311 shares during the quarter. Principal Financial Group Inc. owned about 1.84% of Procore Technologies worth $182,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Procore Technologies by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company's stock valued at $891,692,000 after buying an additional 838,925 shares in the last quarter. Capital World Investors lifted its holdings 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 buying an additional 2,555,612 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Procore Technologies by 14.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock valued at $196,873,000 after acquiring an additional 322,367 shares during the last quarter. FIL Ltd lifted its stake in shares of Procore Technologies by 4.0% in the 4th quarter. FIL Ltd now owns 2,171,975 shares of the company's stock valued at $162,746,000 after purchasing an additional 84,216 shares during the last quarter. Finally, Wasatch Advisors LP lifted its position in shares of Procore Technologies by 28.8% in the fourth quarter. Wasatch Advisors LP now owns 2,036,632 shares of the company's stock worth $152,605,000 after buying an additional 455,314 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 2,500 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $65.33, for a total transaction of $163,325.00. Following the completion of the transaction, the executive owned 208,288 shares in the company, valued at approximately $13,607,455.04. This represents a 1.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners Iv, sold 116,365 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $64.76, for a total value of $7,535,797.40. Following the transaction, the insider owned 1,893,458 shares of the company's stock, valued at approximately $122,620,340.08. The trade was a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 660,412 shares of company stock worth $42,834,653 in the last quarter. Company insiders own 29.00% of the company's stock.

Procore Technologies Trading Down 2.0%

NYSE PCOR traded down $1.47 on Monday, reaching $71.64. The company had a trading volume of 1,155,112 shares, compared to its average volume of 1,664,249. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of -83.30 and a beta of 0.89. The stock's 50 day moving average is $67.43 and its 200-day moving average is $70.65.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative return on equity of 6.54% and a negative net margin of 10.73%. The company had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. During the same period in the prior year, the company earned $0.30 earnings per share. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of research analyst reports. Arete started coverage on shares of Procore Technologies in a research report on Monday, June 16th. They set a "buy" rating and a $91.00 target price for the company. DA Davidson raised Procore Technologies to a "hold" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price target on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Scotiabank cut their price target on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Finally, KeyCorp cut their price objective on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Four 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. According to MarketBeat, Procore Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $80.83.

View Our Latest Report on Procore Technologies

Procore Technologies Profile

(Free Report)

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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Institutional Ownership by Quarter for Procore Technologies (NYSE:PCOR)

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