Russell Investments Group Ltd. Has $11.86 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

Russell Investments Group Ltd. cut its position in Procore Technologies, Inc. (NYSE:PCOR) by 29.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,926 shares of the company’s stock after selling 66,340 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Procore Technologies worth $11,863,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares during the period. Huntington National Bank raised its position in shares of Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after buying an additional 404 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Procore Technologies in the fourth quarter valued at approximately $53,000. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now directly owns 200 shares of the company’s stock, valued at approximately $17,480. This trade represents a 84.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Howard Fu sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total transaction of $696,000.00. Following the sale, the chief financial officer now directly owns 156,188 shares of the company’s stock, valued at approximately $13,588,356. The trade was a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,604 shares of company stock valued at $5,427,468. Company insiders own 29.00% of the company’s stock.

Procore Technologies Stock Down 4.9 %

Shares of NYSE PCOR opened at $60.73 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $9.10 billion, a PE ratio of -84.34 and a beta of 0.90. The company’s fifty day simple moving average is $71.97 and its 200 day simple moving average is $72.26. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the subject of several analyst reports. Canaccord Genuity Group lifted their price objective on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a report on Friday, February 14th. Robert W. Baird boosted their price target on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Macquarie decreased their target price on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. UBS Group boosted their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.24.

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.