Axa S.A. Sells 209,966 Shares of Procore Technologies, Inc. $PCOR

Axa S.A. reduced its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 20.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 815,569 shares of the company’s stock after selling 209,966 shares during the quarter. Axa S.A.’s holdings in Procore Technologies were worth $55,801,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. TFB Advisors LLC lifted its stake in shares of Procore Technologies by 8.1% in the 1st quarter. TFB Advisors LLC now owns 3,543 shares of the company’s stock valued at $234,000 after purchasing an additional 264 shares during the period. Russell Investments Group Ltd. increased its holdings in Procore Technologies by 3.8% in the second quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company’s stock valued at $500,000 after purchasing an additional 269 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock valued at $35,000 after purchasing an additional 385 shares during the last quarter. Cresset Asset Management LLC lifted its stake in Procore Technologies by 10.0% in the first quarter. Cresset Asset Management LLC now owns 4,352 shares of the company’s stock valued at $287,000 after buying an additional 396 shares during the period. Finally, FORA Capital LLC boosted its holdings in Procore Technologies by 15.0% during the first quarter. FORA Capital LLC now owns 3,093 shares of the company’s stock worth $204,000 after buying an additional 403 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insiders Place Their Bets

In related news, insider Benjamin C. Singer sold 4,204 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $69.21, for a total transaction of $290,958.84. Following the completion of the transaction, the insider owned 75,676 shares in the company, valued at approximately $5,237,535.96. This represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Lawrence Joseph Stack sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $75.30, for a total transaction of $753,000.00. Following the completion of the transaction, the executive directly owned 184,128 shares of the company’s stock, valued at approximately $13,864,838.40. This trade represents a 5.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 416,957 shares of company stock valued at $30,494,876 over the last 90 days. 21.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PCOR has been the subject of several analyst reports. BMO Capital Markets boosted their target price on Procore Technologies from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Canaccord Genuity Group upped their target price on shares of Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Berenberg Bank began coverage on shares of Procore Technologies in a report on Friday, October 3rd. They issued a “buy” rating and a $84.00 target price on the stock. Finally, KeyCorp boosted their price target on shares of Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.47.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $77.77 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of -92.58 and a beta of 0.90. The stock’s 50-day moving average is $73.91 and its 200-day moving average is $70.76. Procore Technologies, Inc. has a one year low of $53.71 and a one year high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The firm had revenue of $172.21 million during the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. Equities analysts predict that Procore Technologies, Inc. will post -0.15 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.