53,299 Shares in Procore Technologies, Inc. $PCOR Purchased by Nan Fung Group Holdings Ltd

Nan Fung Group Holdings Ltd acquired a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 53,299 shares of the company’s stock, valued at approximately $3,877,000. Procore Technologies comprises approximately 3.5% of Nan Fung Group Holdings Ltd’s investment portfolio, making the stock its 9th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCOR. Wilmington Savings Fund Society FSB acquired a new position in Procore Technologies in the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp grew its position in Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 199 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies in the 4th quarter valued at about $41,000. Allworth Financial LP grew its position in Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after acquiring an additional 204 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in Procore Technologies in the 4th quarter valued at about $54,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PCOR shares. Citizens Jmp raised Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price for the company in a research report on Wednesday, April 29th. TD Cowen dropped their target price on Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Piper Sandler dropped their target price on Procore Technologies from $79.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and issued a $66.00 target price on shares of Procore Technologies in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Procore Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.56.

Insider Activity

In related news, Director Connor Kevin J. O sold 5,769 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $51.07, for a total transaction of $294,622.83. Following the completion of the sale, the director owned 990,983 shares in the company, valued at $50,609,501.81. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Benjamin C. Singer sold 3,942 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $50.00, for a total value of $197,100.00. Following the sale, the insider owned 96,723 shares of the company’s stock, valued at approximately $4,836,150. The trade was a 3.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 178,077 shares of company stock worth $8,564,311. 16.80% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

Shares of PCOR opened at $42.37 on Friday. The stock has a 50-day simple moving average of $50.99 and a 200-day simple moving average of $59.46. 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 stock has a market capitalization of $6.39 billion, a PE ratio of -83.07 and a beta of 0.73. Procore Technologies, Inc. has a 1 year low of $40.74 and a 1 year high of $82.32.

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

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.