Allspring Global Investments Holdings LLC Sells 11,517 Shares of Procore Technologies, Inc. $PCOR

Allspring Global Investments Holdings LLC decreased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 1.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,140,350 shares of the company’s stock after selling 11,517 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Procore Technologies were worth $79,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake in shares of Procore Technologies by 89.5% during the first quarter. Teacher Retirement System of Texas now owns 19,957 shares of the company’s stock valued at $1,318,000 after purchasing an additional 9,428 shares in the last quarter. GAMMA Investing LLC raised its holdings in Procore Technologies by 66.6% in the 1st quarter. GAMMA Investing LLC now owns 1,243 shares of the company’s stock valued at $82,000 after buying an additional 497 shares during the last quarter. Brown Advisory Inc. boosted its position in Procore Technologies by 87.4% during the 1st quarter. Brown Advisory Inc. now owns 12,943 shares of the company’s stock worth $854,000 after buying an additional 6,038 shares during the period. Amalgamated Bank grew its holdings in Procore Technologies by 4.2% during the 1st quarter. Amalgamated Bank now owns 7,374 shares of the company’s stock worth $487,000 after acquiring an additional 295 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Procore Technologies by 8.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,702 shares of the company’s stock worth $508,000 after acquiring an additional 613 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 1,036 shares of Procore Technologies stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $75.00, for a total transaction of $77,700.00. Following the transaction, the insider owned 85,330 shares of the company’s stock, valued at $6,399,750. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Connor Kevin J. O sold 7,692 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $72.57, for a total value of $558,208.44. Following the sale, the director owned 1,123,329 shares of the company’s stock, valued at $81,519,985.53. This trade represents a 0.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,422 shares of company stock valued at $1,685,658 over the last ninety days. 21.50% of the stock is currently owned by insiders.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $71.84 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $69.16 and a two-hundred day simple moving average of $67.76. Procore Technologies, Inc. has a 12 month low of $53.71 and a 12 month high of $88.92. The firm has a market capitalization of $10.79 billion, a PE ratio of -74.84 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share for the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The business had revenue of $172.21 million during the quarter. Analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

PCOR has been the subject of several analyst reports. Berenberg Bank initiated coverage on shares of Procore Technologies in a research note on Friday, October 3rd. They set a “buy” rating and a $84.00 price target for the company. Citizens Jmp lowered Procore Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 1st. Piper Sandler upped their price target on Procore Technologies from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. BMO Capital Markets increased their price target on Procore Technologies from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.11.

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.