Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,700 shares of the company’s stock after selling 1,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Procore Technologies were worth $1,710,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PCOR. IFP Advisors Inc boosted its stake in shares of Procore Technologies by 2,600.0% during the 3rd quarter. IFP Advisors Inc now owns 378 shares of the company’s stock worth $25,000 after purchasing an additional 364 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Procore Technologies during the 3rd quarter worth about $36,000. International Assets Investment Management LLC lifted its holdings in shares of Procore Technologies by 6,823.1% during the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after acquiring an additional 887 shares during the period. Conestoga Capital Advisors LLC purchased a new position in shares of Procore Technologies during the 3rd quarter worth about $202,000. Finally, Portside Wealth Group LLC lifted its holdings in shares of Procore Technologies by 7.5% during the 3rd quarter. Portside Wealth Group LLC now owns 3,311 shares of the company’s stock worth $215,000 after acquiring an additional 231 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $70.09 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35. The company has a 50 day moving average of $76.82 and a two-hundred day moving average of $68.90.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative net margin of 19.97% and a negative return on equity of 12.26%. The business had revenue of $260.04 million during the quarter, compared to the consensus estimate of $248.20 million. Sell-side analysts predict that Procore Technologies, Inc. will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 6,041 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $446,429.90. Following the sale, the senior vice president now directly owns 77,768 shares in the company, valued at $5,747,055.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Benjamin C. Singer sold 3,000 shares of Procore Technologies stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.15, for a total transaction of $246,450.00. Following the sale, the insider now directly owns 125,321 shares in the company, valued at $10,295,120.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of Procore Technologies stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the sale, the senior vice president now owns 77,768 shares in the company, valued at $5,747,055.20. The disclosure for this sale can be found here. Insiders sold a total of 467,672 shares of company stock valued at $36,612,454 over the last 90 days. 39.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PCOR has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Procore Technologies from $76.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. The Goldman Sachs Group increased their price objective on shares of Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. JMP Securities raised their price target on shares of Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. BMO Capital Markets raised their price target on shares of Procore Technologies from $76.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus raised their price target on shares of Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.86.

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.