MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Holdings in Procore Technologies, Inc. (NYSE:PCOR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in Procore Technologies, Inc. (NYSE:PCOR) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,788 shares of the company’s stock after selling 8,798 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.20% of Procore Technologies worth $21,789,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its holdings in Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 147 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after buying an additional 162 shares in the last quarter. Huntington National Bank grew its holdings in Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after buying an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Procore Technologies by 1,434.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock valued at $54,000 after buying an additional 674 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Procore Technologies during the 4th quarter valued at approximately $56,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction dated Wednesday, February 19th. The stock was 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 in the company, valued at $17,480. The trade was a 84.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Howard Fu sold 8,000 shares of Procore Technologies stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the transaction, the chief financial officer now owns 156,188 shares in the company, valued at $13,588,356. This trade represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,142 shares of company stock worth $4,119,407 over the last quarter. Insiders own 29.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PCOR shares. KeyCorp lowered their target price 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. Mizuho lowered their target price on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Canaccord Genuity Group increased their target price on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Jefferies Financial Group lowered their target price on Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. lowered their target price on Procore Technologies from $97.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.24.

Procore Technologies Stock Performance

PCOR stock opened at $71.63 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The business has a 50-day moving average price of $64.72 and a 200 day moving average price of $72.49. The company has a market capitalization of $10.68 billion, a P/E ratio of -99.48 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, equities research 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.