Procore Technologies, Inc. $PCOR Stock Holdings Lowered by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Procore Technologies by 35.3%, selling over 102,000 shares, bringing its total holdings to approximately $12.43 million.
• Several institutional investors, including the Teacher Retirement System of Texas and Brown Advisory Inc., significantly increased their positions in Procore Technologies during the same period, with the Teacher Retirement System boosting its stake by 89.5%.
• Procore Technologies reported a revenue of $323.92 million for the last quarter, exceeding analysts' estimates, with a positive year-over-year revenue growth of 13.9%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 35.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 188,273 shares of the company's stock after selling 102,515 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.13% of Procore Technologies worth $12,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Procore Technologies by 84.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company's stock worth $215,195,000 after buying an additional 1,492,869 shares during the period. Principal Financial Group Inc. increased its position in shares of Procore Technologies by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company's stock worth $182,365,000 after purchasing an additional 82,311 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Procore Technologies by 14.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock worth $196,873,000 after purchasing an additional 322,367 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Procore Technologies by 25.6% in the 1st quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company's stock worth $145,954,000 after purchasing an additional 451,238 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Procore Technologies by 7.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,879,226 shares of the company's stock worth $124,067,000 after purchasing an additional 126,070 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 4,500 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $75.00, for a total transaction of $337,500.00. Following the completion of the transaction, the insider directly owned 97,557 shares of the company's stock, valued at $7,316,775. The trade was a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Howard Fu sold 814 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $74.35, for a total transaction of $60,520.90. Following the transaction, the chief financial officer directly owned 197,457 shares of the company's stock, valued at $14,680,927.95. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,613 shares of company stock valued at $3,028,247 in the last ninety days. Company insiders own 21.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citizens Jmp downgraded shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 1st. Robert W. Baird boosted their target price on shares of Procore Technologies from $83.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Piper Sandler boosted their target price on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. KeyCorp boosted their target price on shares of Procore Technologies from $77.00 to $81.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of Procore Technologies from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.06.

Procore Technologies Stock Performance

Shares of NYSE PCOR traded down $0.93 during midday trading on Friday, hitting $69.67. The company's stock had a trading volume of 1,234,676 shares, compared to its average volume of 1,465,709. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92. The firm's fifty day moving average price is $69.21 and its 200-day moving average price is $67.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $10.46 billion, a P/E ratio of -72.57 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $323.92 million during the quarter, compared to analyst estimates of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. Procore Technologies's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

About Procore Technologies

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.