Wellington Management Group LLP Boosts Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Wellington Management Group LLP grew its stake in Procore Technologies, Inc. (NYSE:PCORFree Report) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,671 shares of the company’s stock after purchasing an additional 2,494 shares during the period. Wellington Management Group LLP’s holdings in Procore Technologies were worth $10,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PCOR. Bank of New York Mellon Corp grew its position in shares of Procore Technologies by 311.8% in the first quarter. Bank of New York Mellon Corp now owns 487,908 shares of the company’s stock valued at $28,280,000 after purchasing an additional 369,427 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Procore Technologies by 33.1% in the first quarter. HighTower Advisors LLC now owns 15,927 shares of the company’s stock valued at $924,000 after purchasing an additional 3,959 shares in the last quarter. Citigroup Inc. grew its position in shares of Procore Technologies by 41.9% in the first quarter. Citigroup Inc. now owns 8,019 shares of the company’s stock valued at $465,000 after purchasing an additional 2,367 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Procore Technologies in the first quarter valued at approximately $31,000. Finally, Bank of Montreal Can purchased a new stake in shares of Procore Technologies in the first quarter valued at approximately $2,460,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Benjamin C. Singer sold 1,000 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the insider now directly owns 130,318 shares in the company, valued at $9,122,260. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Procore Technologies news, insider Benjamin C. Singer sold 2,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $68.75, for a total value of $137,500.00. Following the sale, the insider now directly owns 128,318 shares in the company, valued at $8,821,862.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benjamin C. Singer sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the sale, the insider now owns 130,318 shares in the company, valued at $9,122,260. The disclosure for this sale can be found here. Over the last three months, insiders have sold 474,762 shares of company stock worth $36,025,604. Corporate insiders own 39.20% of the company’s stock.

Procore Technologies Stock Up 0.9 %

Shares of NYSE PCOR opened at $81.88 on Monday. The stock has a market cap of $11.75 billion, a P/E ratio of -61.56 and a beta of 0.70. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $82.36. The business’s fifty day simple moving average is $74.77 and its 200-day simple moving average is $67.05.

Procore Technologies (NYSE:PCORGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.13. The business had revenue of $260.04 million for the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. As a group, equities analysts predict that Procore Technologies, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Procore Technologies from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. BMO Capital Markets increased their price objective on Procore Technologies from $76.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. JMP Securities increased their price objective on Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research report on Friday, February 16th. The Goldman Sachs Group increased their price objective on Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, DA Davidson reiterated a “buy” rating and issued a $95.00 price objective on shares of Procore Technologies in a research report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $81.86.

Read Our Latest Stock Analysis on PCOR

About Procore Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for Procore Technologies (NYSE:PCOR)

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