Hsbc Holdings PLC Purchases 1,697 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Hsbc Holdings PLC increased its position in shares of Procore Technologies, Inc. (NYSE:PCORFree Report) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,519 shares of the company’s stock after buying an additional 1,697 shares during the quarter. Hsbc Holdings PLC’s holdings in Procore Technologies were worth $1,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ellsworth Advisors LLC grew its stake in shares of Procore Technologies by 3.0% during the 4th quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock worth $408,000 after acquiring an additional 170 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Procore Technologies by 8.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,167 shares of the company’s stock valued at $272,000 after buying an additional 316 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Procore Technologies by 5.7% during the 4th quarter. Venturi Wealth Management LLC now owns 7,557 shares of the company’s stock worth $523,000 after buying an additional 408 shares in the last quarter. Pathstone Family Office LLC boosted its stake in shares of Procore Technologies by 9.6% during the 3rd quarter. Pathstone Family Office LLC now owns 5,210 shares of the company’s stock worth $340,000 after buying an additional 457 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Procore Technologies by 14.7% in the 4th quarter. Private Advisor Group LLC now owns 5,015 shares of the company’s stock valued at $347,000 after acquiring an additional 641 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insiders Place Their Bets

In other news, SVP William Fred Fleming, Jr. sold 3,188 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $70.17, for a total transaction of $223,701.96. Following the sale, the senior vice president now directly owns 87,248 shares of the company’s stock, valued at approximately $6,122,192.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Procore Technologies news, insider Benjamin C. Singer sold 3,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $82.15, for a total transaction of $246,450.00. Following the completion of the sale, the insider now directly owns 125,321 shares in the company, valued at $10,295,120.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William Fred Fleming, Jr. sold 3,188 shares of Procore Technologies stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total value of $223,701.96. Following the completion of the transaction, the senior vice president now owns 87,248 shares in the company, valued at approximately $6,122,192.16. The disclosure for this sale can be found here. Insiders have sold a total of 352,610 shares of company stock worth $25,786,903 in the last 90 days. Company insiders own 29.00% of the company’s stock.

Procore Technologies Price Performance

NYSE:PCOR opened at $65.95 on Friday. Procore Technologies, Inc. has a 52 week low of $48.11 and a 52 week high of $83.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61. The firm’s 50-day simple moving average is $70.67 and its 200 day simple moving average is $70.68. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of -68.70 and a beta of 0.76.

Procore Technologies (NYSE:PCORGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.15. The company had revenue of $269.43 million for the quarter, compared to analysts’ expectations of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. As a group, sell-side analysts predict that Procore Technologies, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on PCOR. The Goldman Sachs Group upped their target price on Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Barclays lowered their target price on shares of Procore Technologies from $83.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Macquarie started coverage on shares of Procore Technologies in a research note on Wednesday. They issued a “neutral” rating and a $70.00 price target for the company. Piper Sandler decreased their price objective on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, BMO Capital Markets dropped their target price on shares of Procore Technologies from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Check Out Our Latest Stock Analysis on Procore Technologies

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.

See Also

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

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