Legal & General Group Plc Sells 37,454 Shares of Procore Technologies, Inc. $PCOR

Legal & General Group Plc cut its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 23.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 122,646 shares of the company’s stock after selling 37,454 shares during the period. Legal & General Group Plc’s holdings in Procore Technologies were worth $8,921,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Procore Technologies during the 3rd quarter worth about $34,000. Jones Financial Companies Lllp lifted its position in Procore Technologies by 70.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after buying an additional 199 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Procore Technologies during the 4th quarter worth about $41,000. Allworth Financial LP lifted its position in Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after buying an additional 204 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Procore Technologies during the 3rd quarter worth about $57,000. 81.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PCOR has been the topic of several analyst reports. Stifel Nicolaus cut their price target on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. BTIG Research reaffirmed a “buy” rating and issued a $66.00 target price on shares of Procore Technologies in a report on Wednesday, May 6th. Barclays dropped their target price on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. DA Davidson dropped their target price on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Finally, TD Cowen dropped their target price on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and an average price target of $72.56.

Procore Technologies Stock Down 0.0%

Shares of PCOR stock opened at $50.63 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50-day moving average is $52.35 and its 200-day moving average is $60.50. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of -99.28 and a beta of 0.73. Procore Technologies, Inc. has a 52-week low of $45.02 and a 52-week high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $359.28 million during the quarter, compared to the consensus estimate of $352.82 million. Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.24%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. Sell-side analysts predict that Procore Technologies, Inc. will post 0.06 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $51.06, for a total value of $2,865,589.32. Following the transaction, the chairman directly owned 927,580 shares of the company’s stock, valued at $47,362,234.80. This represents a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 7,692 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $57.25, for a total transaction of $440,367.00. Following the completion of the transaction, the director directly owned 1,004,444 shares in the company, valued at approximately $57,504,419. This represents a 0.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 185,768 shares of company stock valued at $9,683,136 in the last three months. 16.80% of the stock is currently owned by company insiders.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.