Legal & General Group Plc Cuts Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Legal & General Group Plc lowered its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 11.5% in the fourth quarter, according to its most recent disclosure with the 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 approximately 0.11% of Procore Technologies worth $11,855,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Procore Technologies by 49.1% in the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after buying an additional 22,734 shares in the last quarter. M&T Bank Corp acquired a new stake in Procore Technologies during the third quarter valued at approximately $250,000. Geode Capital Management LLC grew its stake in shares of Procore Technologies by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company's stock valued at $105,967,000 after purchasing an additional 168,769 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Procore Technologies during the 3rd quarter worth approximately $227,000. Finally, Tidal Investments LLC lifted its holdings in shares of Procore Technologies by 237.8% during the third quarter. Tidal Investments LLC now owns 17,538 shares of the company's stock valued at $1,082,000 after acquiring an additional 12,346 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the sale, the executive now owns 161,368 shares of the company's stock, valued at $13,380,634.56. The trade was a 6.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Howard Fu sold 1,216 shares of Procore Technologies stock in a transaction on Monday, April 14th. The shares were sold at an average price of $61.34, for a total value of $74,589.44. Following the completion of the transaction, the chief financial officer now owns 208,184 shares of the company's stock, valued at approximately $12,770,006.56. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,982 shares of company stock valued at $5,069,759 over the last ninety days. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Trading Down 2.5 %

Shares of NYSE PCOR traded down $1.50 during midday trading on Friday, reaching $58.37. The stock had a trading volume of 1,030,883 shares, compared to its average volume of 1,733,708. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company's 50 day moving average price is $69.99 and its 200 day moving average price is $72.21. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of -81.06 and a beta of 0.90.

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

Wall Street Analysts Forecast Growth

PCOR has been the topic of a number of research analyst reports. Barclays decreased their price target on Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Jefferies Financial Group reduced their price target 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. JMP Securities raised their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 18th. KeyCorp increased their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, Macquarie reduced their price objective on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $86.88.

Procore Technologies Company 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.