Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 15.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,950,387 shares of the company's stock after selling 353,971 shares during the period. Franklin Resources Inc. owned 1.31% of Procore Technologies worth $122,621,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Westfield Capital Management Co. LP raised its holdings in shares of Procore Technologies by 39.2% during the third quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company's stock valued at $59,635,000 after purchasing an additional 272,030 shares during the period. Advantage Alpha Capital Partners LP grew its stake in Procore Technologies by 30.2% in the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company's stock valued at $7,825,000 after acquiring an additional 29,431 shares during the period. Pathstone Holdings LLC raised its position in shares of Procore Technologies by 804.3% during the third quarter. Pathstone Holdings LLC now owns 145,802 shares of the company's stock worth $8,999,000 after purchasing an additional 129,679 shares during the period. Long Path Partners LP increased its holdings in Procore Technologies by 5.8% during the 3rd quarter. Long Path Partners LP now owns 358,050 shares of the company's stock worth $22,099,000 after purchasing an additional 19,547 shares in the last quarter. Finally, Dragoneer Investment Group LLC lifted its holdings in shares of Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company's stock valued at $148,762,000 after purchasing an additional 1,609,607 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PCOR shares. Baird R W upgraded shares of Procore Technologies to a "strong-buy" rating in a research note on Tuesday, September 24th. TD Cowen boosted their target price on Procore Technologies from $70.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Canaccord Genuity Group boosted their price target on shares of Procore Technologies from $67.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Scotiabank raised their price target on Procore Technologies from $70.00 to $85.00 and gave the stock a "sector outperform" rating in a report on Friday, November 22nd. Finally, Barclays increased their price objective on Procore Technologies from $66.00 to $78.00 and gave the stock an "equal weight" rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies has an average rating of "Moderate Buy" and a consensus price target of $83.71.

Insider Activity

In other news, Director Connor Kevin J. O sold 33,332 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total value of $2,730,890.76. Following the transaction, the director now owns 1,282,648 shares of the company's stock, valued at $105,087,350.64. This represents a 2.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total value of $1,061,250.00. Following the transaction, the senior vice president now owns 75,120 shares of the company's stock, valued at approximately $5,314,740. This represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,295 shares of company stock worth $11,185,742. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Trading Down 1.4 %

Shares of PCOR stock traded down $1.12 during mid-day trading on Monday, reaching $77.70. The stock had a trading volume of 2,977,586 shares, compared to its average volume of 1,659,870. The firm has a market capitalization of $11.55 billion, a PE ratio of -157.64 and a beta of 0.82. The stock's 50-day moving average price is $70.80 and its two-hundred day moving average price is $65.26. The company has a current ratio of 1.57, a quick 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 $86.67.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analysts' expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Equities analysts expect that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

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.