Legal & General Group Plc Has $8.92 Million Stock Position in Procore Technologies, Inc. $PCOR

Legal & General Group Plc decreased its position in Procore Technologies, Inc. (NYSE:PCOR) by 23.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 122,646 shares of the company’s stock after selling 37,454 shares during the period. Legal & General Group Plc owned approximately 0.08% of Procore Technologies worth $8,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Procore Technologies by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 13,158,506 shares of the company’s stock valued at $957,150,000 after buying an additional 804,920 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Procore Technologies by 493.9% in the 3rd quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock valued at $445,391,000 after buying an additional 5,079,534 shares during the period. Wasatch Advisors LP grew its holdings in shares of Procore Technologies by 6.8% in the 3rd quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company’s stock valued at $362,560,000 after buying an additional 315,604 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Procore Technologies by 3.9% in the 4th quarter. Principal Financial Group Inc. now owns 3,428,825 shares of the company’s stock valued at $249,416,000 after buying an additional 127,256 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Procore Technologies by 77.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company’s stock valued at $248,066,000 after buying an additional 1,486,153 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $50.63 on Friday. The firm has a market cap of $7.64 billion, a PE ratio of -99.28 and a beta of 0.73. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 1-year low of $45.02 and a 1-year high of $82.32. The company has a fifty day moving average price of $52.35 and a 200 day moving average price of $60.50.

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

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 7,692 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $57.25, for a total value of $440,367.00. Following the completion of the transaction, the director directly owned 1,004,444 shares of the company’s stock, valued at approximately $57,504,419. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $51.06, for a total transaction of $2,865,589.32. Following the completion of the transaction, the chairman directly owned 927,580 shares of the company’s stock, valued at approximately $47,362,234.80. The trade was a 5.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 185,768 shares of company stock valued at $9,683,136. Company insiders own 16.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays decreased their price target on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Wall Street Zen lowered shares of Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Stifel Nicolaus decreased their price target on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a report on Friday, February 13th. Citizens Jmp raised shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target for the company in a report on Wednesday, April 29th. Finally, TD Cowen decreased their price target on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.56.

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. 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.