Axa S.A. Sells 209,966 Shares of Procore Technologies, Inc. $PCOR

Axa S.A. lessened its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 20.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 815,569 shares of the company’s stock after selling 209,966 shares during the quarter. Axa S.A. owned approximately 0.54% of Procore Technologies worth $55,801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PCOR. JPMorgan Chase & Co. boosted its stake in Procore Technologies by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 3,282,582 shares of the company’s stock worth $224,594,000 after buying an additional 23,038 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Procore Technologies by 73.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,259,420 shares of the company’s stock worth $154,590,000 after acquiring an additional 955,450 shares during the period. Wellington Management Group LLP boosted its position in shares of Procore Technologies by 25.6% during the 1st quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company’s stock valued at $145,954,000 after acquiring an additional 451,238 shares in the last quarter. State Street Corp increased its stake in Procore Technologies by 3.1% in the second quarter. State Street Corp now owns 1,935,851 shares of the company’s stock valued at $132,451,000 after acquiring an additional 58,242 shares during the period. Finally, Geode Capital Management LLC increased its stake in Procore Technologies by 3.9% in the second quarter. Geode Capital Management LLC now owns 1,918,606 shares of the company’s stock valued at $131,292,000 after acquiring an additional 72,870 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Price Performance

Shares of PCOR stock opened at $77.77 on Wednesday. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92. The stock has a market capitalization of $12.09 billion, a PE ratio of -92.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. The stock’s fifty day moving average is $73.91 and its 200-day moving average is $70.76.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The company had revenue of $172.21 million for the quarter. Equities research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on PCOR shares. William Blair restated an “outperform” rating on shares of Procore Technologies in a research note on Friday, October 17th. BMO Capital Markets raised their target price on Procore Technologies from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Canaccord Genuity Group boosted their price target on Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. KeyCorp upped their price target on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.47.

Insider Buying and Selling at Procore Technologies

In related news, Chairman Craig F. Jr. Courtemanche sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $71.91, for a total value of $21,573,000.00. Following the completion of the sale, the chairman owned 677,796 shares of the company’s stock, valued at $48,740,310.36. This trade represents a 30.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Connor Kevin J. O sold 9,615 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $75.13, for a total transaction of $722,374.95. Following the completion of the transaction, the director owned 1,052,519 shares of the company’s stock, valued at $79,075,752.47. This trade represents a 0.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 416,957 shares of company stock valued at $30,494,876 over the last three months. Insiders own 21.50% of the company’s stock.

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.