Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,220 shares of the company's stock after selling 20,556 shares during the period. Legal & General Group Plc owned 0.11% of Procore Technologies worth $11,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. increased 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 acquiring an additional 2,670,872 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Procore Technologies in the fourth quarter worth about $131,840,000. Assenagon Asset Management S.A. lifted its position in shares of Procore Technologies by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock worth $214,377,000 after buying an additional 1,425,967 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Procore Technologies by 474.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,409,499 shares of the company's stock valued at $105,614,000 after buying an additional 1,164,074 shares during the last quarter. Finally, Norges Bank purchased a new position in Procore Technologies during the 4th quarter valued at approximately $86,387,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares of the company's stock, valued at $17,480. The trade was a 84.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Howard Fu sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the sale, the chief financial officer now owns 156,188 shares of the company's stock, valued at approximately $13,588,356. This trade represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,482 shares of company stock valued at $4,952,759 over the last 90 days. Corporate insiders own 29.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCOR. DA Davidson lowered their target price on Procore Technologies from $80.00 to $60.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group lifted their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Jefferies Financial Group decreased their target price on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Barclays dropped their price target on Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Finally, JMP Securities raised their price objective on Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and an average price target of $85.76.

Procore Technologies Stock Up 1.7 %

Shares of PCOR traded up $0.95 during midday trading on Tuesday, reaching $57.21. 1,214,543 shares of the stock were exchanged, compared to its average volume of 1,732,372. The company has a market capitalization of $8.58 billion, a P/E ratio of -79.46 and a beta of 0.90. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The company's 50 day moving average is $69.27 and its two-hundred day moving average is $72.17.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current 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.