KBC Group NV Sells 1,377 Shares of Procore Technologies, Inc. $PCOR

KBC Group NV reduced its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 30.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,085 shares of the company’s stock after selling 1,377 shares during the period. KBC Group NV’s holdings in Procore Technologies were worth $211,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock valued at $35,000 after acquiring an additional 385 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Procore Technologies in the first quarter valued at approximately $49,000. Hilltop National Bank purchased a new stake in shares of Procore Technologies during the second quarter worth $62,000. Signaturefd LLC lifted its holdings in Procore Technologies by 53.4% during the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock worth $79,000 after purchasing an additional 419 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Procore Technologies by 58.7% in the first quarter. AlphaQuest LLC now owns 1,858 shares of the company’s stock worth $123,000 after buying an additional 687 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

PCOR has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. Berenberg Bank initiated coverage on shares of Procore Technologies in a research note on Friday, October 3rd. They issued a “buy” rating and a $84.00 price objective for the company. KeyCorp increased their target price on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. William Blair reissued an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. Finally, Canaccord Genuity Group lifted their price objective on Procore Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Fifteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.26.

Insider Activity

In related news, SVP William Fred Fleming, Jr. sold 22,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $78.77, for a total transaction of $1,732,940.00. Following the transaction, the senior vice president owned 63,309 shares in the company, valued at $4,986,849.93. This represents a 25.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn Bueker sold 6,500 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $79.00, for a total value of $513,500.00. Following the transaction, the director directly owned 13,481 shares in the company, valued at $1,064,999. The trade was a 32.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 97,343 shares of company stock valued at $7,418,891 over the last three months. Corporate insiders own 21.50% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $73.09 on Wednesday. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of -87.01 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 company’s 50-day moving average is $73.15 and its 200 day moving average is $70.13. Procore Technologies, Inc. has a one year low of $53.71 and a one year high of $88.92.

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

Procore Technologies Company 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.