62,568 Shares in Procore Technologies, Inc. (NYSE:PCOR) Bought by Axa S.A.

Axa S.A. bought a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the second quarter, HoldingsChannel reports. The institutional investor bought 62,568 shares of the company’s stock, valued at approximately $4,149,000.

Several other institutional investors also recently made changes to their positions in PCOR. Tanager Wealth Management LLP increased its stake in Procore Technologies by 1.2% in the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock valued at $834,000 after purchasing an additional 150 shares in the last quarter. Taylor Frigon Capital Management LLC raised its stake in shares of Procore Technologies by 0.3% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after buying an additional 180 shares during the last quarter. Signaturefd LLC boosted its position in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Procore Technologies by 26.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after acquiring an additional 260 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after acquiring an additional 297 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PCOR. Barclays downgraded shares of Procore Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $78.00 to $54.00 in a report on Friday, August 2nd. DA Davidson downgraded Procore Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $60.00 in a research report on Friday, August 2nd. Macquarie restated a “neutral” rating and issued a $70.00 price objective on shares of Procore Technologies in a research report on Tuesday, July 30th. JPMorgan Chase & Co. dropped their price objective on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Stifel Nicolaus cut their target price on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

Insider Activity

In related news, SVP William Fred Fleming, Jr. sold 2,707 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $160,091.98. Following the transaction, the senior vice president now owns 79,156 shares in the company, valued at $4,681,285.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Procore Technologies news, CFO Howard Fu sold 1,142 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $68.68, for a total transaction of $78,432.56. Following the transaction, the chief financial officer now owns 181,419 shares in the company, valued at $12,459,856.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $160,091.98. Following the completion of the sale, the senior vice president now owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. The disclosure for this sale can be found here. Insiders have sold 99,890 shares of company stock valued at $5,947,691 in the last three months. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Stock Performance

NYSE:PCOR opened at $62.05 on Monday. The company has a market cap of $9.08 billion, a P/E ratio of -64.64 and a beta of 0.73. The firm’s 50 day moving average is $59.62 and its two-hundred day moving average is $66.67. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The firm had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $275.26 million. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.28) earnings per share. Analysts expect that Procore Technologies, Inc. will post -0.28 EPS for the current year.

About Procore Technologies

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.