BNP Paribas Has $158,000 Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

BNP Paribas reduced its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 77.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,564 shares of the company’s stock after selling 8,820 shares during the quarter. BNP Paribas’ holdings in Procore Technologies were worth $158,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. XN LP grew its holdings in shares of Procore Technologies by 101.1% during the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after buying an additional 1,411,812 shares during the last quarter. Dragoneer Investment Group LLC lifted its position in shares of Procore Technologies by 254.0% during the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares in the last quarter. ShawSpring Partners LLC lifted its position in shares of Procore Technologies by 493.3% during the third quarter. ShawSpring Partners LLC now owns 1,438,082 shares of the company’s stock valued at $88,758,000 after purchasing an additional 1,195,675 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Procore Technologies during the third quarter valued at about $88,572,000. Finally, Robeco Schweiz AG lifted its position in shares of Procore Technologies by 20.1% during the second quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock valued at $87,198,000 after purchasing an additional 220,000 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Stock Performance

NYSE PCOR opened at $81.43 on Thursday. The company’s 50 day moving average is $65.09 and its 200-day moving average is $64.09. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $83.35. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $12.11 billion, a P/E ratio of -162.86 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Sell-side analysts predict that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the transaction, the chief executive officer now owns 770,458 shares of the company’s stock, valued at $54,979,882.88. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 8,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total transaction of $521,030.44. Following the completion of the transaction, the director now directly owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. This represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,553 shares of company stock valued at $7,933,974. Corporate insiders own 29.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. KeyCorp raised their price target on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Piper Sandler raised their price target on shares of Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Scotiabank raised 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. BMO Capital Markets lifted their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, JMP Securities lowered their price objective on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

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.