Principal Financial Group Inc. Reduces Stake in Procore Technologies, Inc. (NYSE:PCOR)

Principal Financial Group Inc. trimmed its stake in shares of Procore Technologies, Inc. (NYSE:PCORFree Report) by 57.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,805 shares of the company’s stock after selling 28,256 shares during the quarter. Principal Financial Group Inc.’s holdings in Procore Technologies were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PCOR. Bank of New York Mellon Corp grew its position in Procore Technologies by 311.8% during the 1st quarter. Bank of New York Mellon Corp now owns 487,908 shares of the company’s stock worth $28,280,000 after acquiring an additional 369,427 shares during the last quarter. HighTower Advisors LLC grew its position in Procore Technologies by 33.1% during the 1st quarter. HighTower Advisors LLC now owns 15,927 shares of the company’s stock worth $924,000 after acquiring an additional 3,959 shares during the last quarter. Citigroup Inc. grew its position in Procore Technologies by 41.9% during the 1st quarter. Citigroup Inc. now owns 8,019 shares of the company’s stock worth $465,000 after acquiring an additional 2,367 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in Procore Technologies during the 1st quarter worth approximately $31,000. Finally, Bank of Montreal Can bought a new stake in shares of Procore Technologies in the 1st quarter worth approximately $2,460,000. 81.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 29,514 shares of Procore Technologies stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total transaction of $1,651,308.30. Following the completion of the transaction, the chief executive officer now owns 813,493 shares in the company, valued at $45,514,933.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 29,514 shares of Procore Technologies stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total transaction of $1,651,308.30. Following the completion of the transaction, the chief executive officer now owns 813,493 shares in the company, valued at $45,514,933.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nanci Caldwell sold 9,270 shares of Procore Technologies stock in a transaction on Friday, February 9th. The shares were sold at an average price of $75.00, for a total value of $695,250.00. Following the transaction, the director now owns 64,280 shares of the company’s stock, valued at approximately $4,821,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 338,176 shares of company stock worth $21,228,648. 39.20% of the stock is owned by insiders.

Procore Technologies Stock Up 0.9 %

Shares of NYSE:PCOR opened at $74.61 on Friday. The stock has a fifty day simple moving average of $68.03 and a two-hundred day simple moving average of $64.93. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of -45.49 and a beta of 0.67. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $76.86. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.04.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCOR. Oppenheimer lowered Procore Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Piper Sandler lifted their price objective on Procore Technologies from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group cut their price objective on Procore Technologies from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Mizuho cut their price objective on Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Finally, Jefferies Financial Group lowered Procore Technologies from a “buy” rating to a “hold” rating and cut their price objective for the stock from $90.00 to $55.00 in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.87.

Get Our Latest Analysis on Procore Technologies

Procore Technologies Company Profile

(Free Report)

Procore Technologies, Inc provides 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

Further Reading

Want to see what other hedge funds are holding PCOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procore Technologies, Inc. (NYSE:PCORFree Report).

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

Receive News & Ratings for Procore Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procore Technologies and related companies with MarketBeat.com's FREE daily email newsletter.