Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its position in Procore Technologies, Inc. (NYSE:PCOR) by 0.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 647,774 shares of the company’s stock after selling 695 shares during the period. Janus Henderson Group PLC owned approximately 0.44% of Procore Technologies worth $53,226,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kinetic Partners Management LP acquired a new stake in shares of Procore Technologies during the first quarter worth $27,831,000. Bwcp LP raised its position in shares of Procore Technologies by 18.8% in the 1st quarter. Bwcp LP now owns 192,616 shares of the company’s stock worth $15,827,000 after buying an additional 30,481 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Procore Technologies in the 1st quarter worth $3,997,000. Silvercrest Asset Management Group LLC raised its position in shares of Procore Technologies by 1.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 29,152 shares of the company’s stock worth $2,395,000 after buying an additional 495 shares during the period. Finally, Untitled Investments LP purchased a new position in shares of Procore Technologies in the 1st quarter worth $1,336,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BMO Capital Markets reissued an “outperform” rating and issued a $85.00 price objective on shares of Procore Technologies in a research report on Tuesday, June 11th. Canaccord Genuity Group cut their price objective on Procore Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Macquarie restated a “neutral” rating and set a $70.00 target price on shares of Procore Technologies in a research note on Tuesday. Stifel Nicolaus lowered their target price on Procore Technologies from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Barclays lowered their target price on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Insider Activity

In other news, SVP William Fred Fleming, Jr. sold 3,188 shares of Procore Technologies stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $70.17, for a total transaction of $223,701.96. Following the sale, the senior vice president now owns 87,248 shares of the company’s stock, valued at $6,122,192.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the sale, the chief executive officer now owns 530,049 shares of the company’s stock, valued at $36,557,479.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 3,188 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $70.17, for a total value of $223,701.96. Following the sale, the senior vice president now directly owns 87,248 shares in the company, valued at approximately $6,122,192.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 309,511 shares of company stock valued at $20,921,459. Insiders own 29.00% of the company’s stock.

Procore Technologies Stock Up 1.2 %

NYSE:PCOR traded up $0.84 during mid-day trading on Tuesday, reaching $70.81. The stock had a trading volume of 2,436,905 shares, compared to its average volume of 1,336,923. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The stock’s 50 day simple moving average is $66.92 and its two-hundred day simple moving average is $71.48. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of -73.80 and a beta of 0.75.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, May 1st. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The company had revenue of $269.43 million during the quarter, compared to the consensus estimate of $263.13 million. Equities analysts anticipate that Procore Technologies, Inc. will post -0.35 EPS for the current 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.