Man Group plc Has $6.60 Million Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Man Group plc grew its position in Procore Technologies, Inc. (NYSE:PCOR) by 42.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,071 shares of the company’s stock after purchasing an additional 26,383 shares during the period. Man Group plc’s holdings in Procore Technologies were worth $6,599,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC raised its holdings in Procore Technologies by 37.8% in 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 holdings in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after purchasing an additional 404 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Procore Technologies by 1,434.0% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after purchasing an additional 674 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Procore Technologies in the fourth quarter worth $56,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Stock Down 1.7%

Procore Technologies stock opened at $69.88 on Tuesday. The company has a market cap of $10.42 billion, a P/E ratio of -97.05 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a fifty day simple moving average of $64.92 and a 200 day simple moving average of $72.75. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PCOR shares. Canaccord Genuity Group increased their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Scotiabank lowered their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus lowered their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Piper Sandler lowered their price objective on shares of Procore Technologies from $110.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $80.24.

Insider Activity

In other news, CFO Howard Fu sold 8,000 shares of Procore Technologies stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the transaction, the chief financial officer now owns 156,188 shares of the company’s stock, valued at $13,588,356. This trade represents a 4.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $72.16, for a total transaction of $555,054.72. Following the completion of the transaction, the director now directly owns 1,192,900 shares of the company’s stock, valued at approximately $86,079,664. This trade represents a 0.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,834 shares of company stock valued at $5,181,472 in the last quarter. Company insiders own 29.00% 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.