Procore Technologies, Inc. $PCOR Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 90.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,911 shares of the company’s stock after selling 36,485 shares during the quarter. Hsbc Holdings PLC’s holdings in Procore Technologies were worth $259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Procore Technologies by 84.5% in the first quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company’s stock valued at $215,195,000 after purchasing an additional 1,492,869 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Procore Technologies by 3.1% in the first quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company’s stock valued at $182,365,000 after buying an additional 82,311 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Procore Technologies by 14.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company’s stock valued at $196,873,000 after buying an additional 322,367 shares during the last quarter. Wellington Management Group LLP lifted its stake in Procore Technologies by 25.6% in the first quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company’s stock valued at $145,954,000 after buying an additional 451,238 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Procore Technologies by 7.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,879,226 shares of the company’s stock valued at $124,067,000 after buying an additional 126,070 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Trading Up 0.8%

Shares of PCOR stock opened at $69.17 on Friday. The business’s fifty day moving average price is $69.19 and its 200 day moving average price is $68.17. Procore Technologies, Inc. has a 1-year low of $52.78 and a 1-year high of $88.92. The firm has a market capitalization of $10.39 billion, a PE ratio of -72.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The firm had revenue of $323.92 million for the quarter, compared to analyst estimates of $311.91 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. Procore Technologies’s quarterly revenue was up 13.9% on a year-over-year basis. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCOR has been the subject of a number of research reports. Arete initiated coverage on Procore Technologies in a research note on Monday, June 16th. They issued a “buy” rating and a $91.00 price objective for the company. BMO Capital Markets boosted their price objective on Procore Technologies from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. JMP Securities reiterated a “market perform” rating and issued a $95.00 price objective on shares of Procore Technologies in a research note on Friday, August 1st. Citizens Jmp cut Procore Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st. Finally, Robert W. Baird boosted their price objective on Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $83.06.

Insider Activity

In related news, Director Connor Kevin J. O sold 8,035 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $72.36, for a total transaction of $581,412.60. Following the transaction, the director owned 1,154,097 shares of the company’s stock, valued at $83,510,458.92. This represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Lawrence Joseph Stack sold 2,500 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $65.33, for a total value of $163,325.00. Following the transaction, the executive directly owned 208,288 shares in the company, valued at $13,607,455.04. This represents a 1.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 664,449 shares of company stock valued at $43,235,011 over the last three months. 21.50% of the stock is currently owned by corporate insiders.

Procore Technologies Profile

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.