Bank of New York Mellon Corp Sells 26,497 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Bank of New York Mellon Corp lowered its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 4.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 556,766 shares of the company’s stock after selling 26,497 shares during the period. Bank of New York Mellon Corp owned 0.37% of Procore Technologies worth $41,718,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Procore Technologies by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after acquiring an additional 1,425,967 shares during the period. Meritage Group LP boosted its holdings in shares of Procore Technologies by 66.6% during the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after acquiring an additional 1,098,019 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of 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 worth $200,810,000 after acquiring an additional 2,670,872 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after acquiring an additional 1,297,151 shares during the period. Finally, Holocene Advisors LP boosted its holdings in shares of Procore Technologies by 1.1% during the third quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock worth $115,623,000 after acquiring an additional 21,234 shares during the period. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Down 5.5 %

Shares of NYSE:PCOR opened at $72.22 on Friday. The company has a fifty day moving average of $77.94 and a 200-day moving average of $70.73. The company has a market capitalization of $10.83 billion, a PE ratio of -100.30 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, equities analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCOR has been the subject of a number of research analyst reports. Piper Sandler boosted their price objective on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Robert W. Baird boosted their price objective on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. BMO Capital Markets lifted their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Scotiabank lifted their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Four equities research 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.94.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 33,332 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total value of $2,730,890.76. Following the sale, the director now owns 1,282,648 shares of the company’s stock, valued at $105,087,350.64. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total transaction of $117,000.00. Following the completion of the sale, the insider now directly owns 83,039 shares in the company, valued at approximately $6,477,042. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,953 shares of company stock worth $7,924,469. Corporate insiders own 29.00% of the company’s stock.

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.