Mirae Asset Global Investments Co. Ltd. Trims Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 12.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,661 shares of the company’s stock after selling 1,603 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Procore Technologies were worth $724,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PCOR. Orion Portfolio Solutions LLC increased its position in shares of Procore Technologies by 29.2% during the first quarter. Orion Portfolio Solutions LLC now owns 75,840 shares of the company’s stock worth $6,232,000 after acquiring an additional 17,119 shares during the period. M&G Plc bought a new stake in Procore Technologies during the 1st quarter valued at $8,798,000. Swiss National Bank lifted its holdings in shares of Procore Technologies by 9.3% in the 1st quarter. Swiss National Bank now owns 184,100 shares of the company’s stock worth $15,127,000 after buying an additional 15,700 shares during the period. BNP Paribas bought a new position in shares of Procore Technologies during the 1st quarter worth $1,349,000. Finally, Park Avenue Securities LLC grew its position in shares of Procore Technologies by 16.9% during the 2nd quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock worth $580,000 after buying an additional 1,266 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Trading Up 1.5 %

Shares of Procore Technologies stock opened at $66.63 on Friday. The firm’s 50 day simple moving average is $60.10 and its two-hundred day simple moving average is $63.84. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of -133.26 and a beta of 0.71. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $83.35. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.55% and a negative net margin of 6.59%. The firm had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Analysts predict that Procore Technologies, Inc. will post -0.28 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on PCOR. BMO Capital Markets lowered their price objective on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Macquarie reiterated a “neutral” rating and set a $70.00 price objective on shares of Procore Technologies in a research note on Tuesday, July 30th. Stifel Nicolaus cut their price objective on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. KeyCorp lowered their target price on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price target on Procore Technologies from $60.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $69.94.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 3,846 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total transaction of $206,337.90. Following the completion of the transaction, the director now directly owns 1,444,313 shares of the company’s stock, valued at approximately $77,487,392.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $62.88, for a total transaction of $322,448.64. Following the sale, the director now directly owns 1,345,464 shares of the company’s stock, valued at $84,602,776.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 3,846 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total value of $206,337.90. Following the completion of the transaction, the director now directly owns 1,444,313 shares of the company’s stock, valued at $77,487,392.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,748 shares of company stock worth $5,661,056 over the last quarter. Insiders own 29.00% of the company’s stock.

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.