Alfreton Capital LLP Sells 200,000 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Alfreton Capital LLP lessened its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 23.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 650,000 shares of the company’s stock after selling 200,000 shares during the period. Procore Technologies makes up approximately 17.5% of Alfreton Capital LLP’s portfolio, making the stock its 4th largest position. Alfreton Capital LLP owned 0.44% of Procore Technologies worth $48,704,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PCOR. Assenagon Asset Management S.A. increased its position in shares of Procore Technologies by 99.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after purchasing an additional 1,425,967 shares during the last quarter. Meritage Group LP grew its stake 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 purchasing an additional 1,098,019 shares in the last quarter. Principal Financial Group Inc. grew its stake 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 purchasing an additional 2,670,872 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Procore Technologies by 128.7% in the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after buying an additional 1,297,151 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in Procore Technologies by 1.1% in the third quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock valued at $115,623,000 after buying an additional 21,234 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $67.69 on Thursday. The company’s fifty day moving average is $77.42 and its two-hundred day moving average is $71.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $10.15 billion, a P/E ratio of -94.02 and a beta of 0.85. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data 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 firm 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%. Analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity

In related news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the transaction, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the sale, the executive now owns 161,368 shares in the company, valued at $13,380,634.56. This trade represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,211 shares of company stock worth $4,672,701 over the last ninety days. 29.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCOR. TD Cowen upped their price objective on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Barclays upped their price target on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Scotiabank increased 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 note on Friday, November 22nd. Piper Sandler boosted their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Robert W. Baird upped their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.94.

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.