Bank of New York Mellon Corp Has $38.47 Million Stake in Procore Technologies, Inc. $PCOR

Bank of New York Mellon Corp grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 11.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 562,213 shares of the company’s stock after buying an additional 59,566 shares during the period. Bank of New York Mellon Corp’s holdings in Procore Technologies were worth $38,467,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in Procore Technologies by 277.0% in the 1st 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 in the last quarter. SVB Wealth LLC bought a new stake in shares of Procore Technologies during the first quarter valued at approximately $49,000. Hilltop National Bank bought a new stake in shares of Procore Technologies during the second quarter valued at approximately $62,000. Signaturefd LLC raised its stake in shares of Procore Technologies by 53.4% in the first quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock valued at $79,000 after purchasing an additional 419 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in 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 purchasing an additional 687 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 22,000 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $78.77, for a total value of $1,732,940.00. Following the completion of the transaction, the senior vice president directly owned 63,309 shares of the company’s stock, valued at approximately $4,986,849.93. The trade was a 25.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn Bueker sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $79.00, for a total transaction of $513,500.00. Following the transaction, the director 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 59,224 shares of company stock worth $4,368,959. Corporate insiders own 21.50% of the company’s stock.

Procore Technologies Trading Down 1.1%

PCOR stock opened at $77.95 on Thursday. The business has a fifty day moving average price of $72.82 and a 200 day moving average price of $69.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.29. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of -92.80 and a beta of 0.90.

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

Wall Street Analysts Forecast Growth

PCOR has been the topic of several analyst reports. William Blair reissued an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. Berenberg Bank assumed coverage on shares of Procore Technologies in a research report on Friday, October 3rd. They set a “buy” rating and a $84.00 target price on the stock. BMO Capital Markets increased their price target on shares of Procore Technologies from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Mizuho upped their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.26.

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.