XTX Topco Ltd Sells 31,805 Shares of Procore Technologies, Inc. (NYSE:PCOR)

XTX Topco Ltd lowered its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 88.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,098 shares of the company's stock after selling 31,805 shares during the period. XTX Topco Ltd's holdings in Procore Technologies were worth $307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PCOR. Vanguard Group Inc. lifted its position in shares of Procore Technologies by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company's stock worth $891,692,000 after buying an additional 838,925 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in 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 valued at $214,377,000 after purchasing an additional 1,425,967 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the period. FIL Ltd increased its position in Procore Technologies by 4.0% in the fourth quarter. FIL Ltd now owns 2,171,975 shares of the company's stock worth $162,746,000 after buying an additional 84,216 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Procore Technologies by 20.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,766,675 shares of the company's stock valued at $132,377,000 after buying an additional 304,396 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $77.33, for a total transaction of $495,685.30. Following the sale, the director now directly owns 1,244,188 shares of the company's stock, valued at approximately $96,213,058.04. This represents a 0.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Fu sold 1,480 shares of Procore Technologies stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $60.02, for a total transaction of $88,829.60. Following the completion of the transaction, the chief financial officer now directly owns 206,704 shares of the company's stock, valued at $12,406,374.08. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,962 shares of company stock valued at $5,041,588. Company insiders own 29.00% of the company's stock.

Analyst Ratings Changes

PCOR has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Scotiabank reduced their target price on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research note on Thursday. Macquarie cut their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Jefferies Financial Group reduced their price objective on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Mizuho cut their price target on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Procore Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $81.18.

Procore Technologies Price Performance

NYSE:PCOR traded up $0.81 during midday trading on Friday, hitting $63.80. The company had a trading volume of 1,082,207 shares, compared to its average volume of 1,738,507. The company has a market capitalization of $9.57 billion, a PE ratio of -88.61 and a beta of 0.90. The company has a quick ratio of 1.57, a current 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 stock's fifty day moving average price is $67.74 and its 200-day moving average price is $72.23.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $302.05 million during the quarter, compared to analysts' expectations of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

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.