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

Voya Investment Management LLC lessened its stake in Procore Technologies, Inc. (NYSE:PCOR) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 445,637 shares of the company’s stock after selling 39,373 shares during the quarter. Voya Investment Management LLC owned 0.30% of Procore Technologies worth $32,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE lifted its stake in shares of Procore Technologies by 5.5% in the second quarter. US Bancorp DE now owns 21,638 shares of the company’s stock worth $1,480,000 after buying an additional 1,131 shares in the last quarter. Federated Hermes Inc. raised its holdings in Procore Technologies by 17.0% in the 2nd quarter. Federated Hermes Inc. now owns 304,219 shares of the company’s stock worth $20,815,000 after acquiring an additional 44,105 shares during the last quarter. Fred Alger Management LLC raised its holdings in Procore Technologies by 15.4% in the 1st quarter. Fred Alger Management LLC now owns 38,349 shares of the company’s stock worth $2,532,000 after acquiring an additional 5,129 shares during the last quarter. Intellectus Partners LLC lifted its position in Procore Technologies by 135.3% in the 2nd quarter. Intellectus Partners LLC now owns 12,305 shares of the company’s stock valued at $842,000 after acquiring an additional 7,075 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Procore Technologies by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,282,582 shares of the company’s stock valued at $224,594,000 after purchasing an additional 23,038 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Procore Technologies Trading Down 0.2%

Shares of NYSE:PCOR opened at $74.20 on Friday. The stock’s 50-day simple moving average is $74.22 and its two-hundred day simple moving average is $71.14. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of -88.33 and a beta of 0.90. Procore Technologies, Inc. has a 52-week low of $53.71 and a 52-week high of $88.92. 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 results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. The business had revenue of $172.21 million for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. Analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PCOR shares. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. BMO Capital Markets upped their target price on shares of Procore Technologies from $82.00 to $87.00 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 research note on Friday, October 17th. Finally, DA Davidson raised shares of Procore Technologies to a “hold” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and an average price target of $84.67.

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. 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.