Voya Investment Management LLC Sells 39,373 Shares of Procore Technologies, Inc. $PCOR

Voya Investment Management LLC cut its position in Procore Technologies, Inc. (NYSE:PCOR) by 8.1% in the third quarter, HoldingsChannel.com reports. The firm owned 445,637 shares of the company’s stock after selling 39,373 shares during the quarter. Voya Investment Management LLC’s holdings in Procore Technologies were worth $32,496,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. George Kaiser Family Foundation boosted its holdings in Procore Technologies by 1.0% in the 2nd quarter. George Kaiser Family Foundation now owns 23,168 shares of the company’s stock worth $1,585,000 after buying an additional 240 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Procore Technologies by 3.8% in the second quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company’s stock valued at $500,000 after acquiring an additional 269 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after acquiring an additional 385 shares during the period. Cresset Asset Management LLC grew its position in shares of Procore Technologies by 10.0% during the first quarter. Cresset Asset Management LLC now owns 4,352 shares of the company’s stock worth $287,000 after purchasing an additional 396 shares in the last quarter. Finally, FORA Capital LLC grew its position in shares of Procore Technologies by 15.0% during the first quarter. FORA Capital LLC now owns 3,093 shares of the company’s stock worth $204,000 after purchasing an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Trading Down 0.2%

PCOR stock opened at $74.20 on Friday. The firm has a fifty day moving average price of $74.22 and a 200 day moving average price of $71.14. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The firm has a market cap of $11.54 billion, a PE ratio of -88.33 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.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) 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 for the quarter. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $75.30, for a total transaction of $753,000.00. Following the sale, the executive directly owned 184,128 shares of the company’s stock, valued at $13,864,838.40. The trade was a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William J.G. Griffith sold 207,474 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $72.30, for a total value of $15,000,370.20. Following the sale, the director owned 3,244,546 shares in the company, valued at approximately $234,580,675.80. This trade represents a 6.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 691,739 shares of company stock worth $50,389,537 in the last quarter. Company insiders own 21.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PCOR. Berenberg Bank began coverage on Procore Technologies in a research note on Friday, October 3rd. They issued a “buy” rating and a $84.00 price target for the company. KeyCorp boosted their target price on shares of Procore Technologies from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Robert W. Baird raised their target price on shares of Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. William Blair reiterated an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.67.

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. 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 Execution, 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.