American Century Companies Inc. Sells 1,319 Shares of Procore Technologies, Inc. (NYSE:PCOR)

American Century Companies Inc. reduced its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 18.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,659 shares of the company’s stock after selling 1,319 shares during the quarter. American Century Companies Inc.’s holdings in Procore Technologies were worth $375,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pier Capital LLC boosted its position in Procore Technologies by 58.9% during the second quarter. Pier Capital LLC now owns 123,605 shares of the company’s stock worth $8,196,000 after purchasing an additional 45,807 shares during the period. Brasada Capital Management LP raised its holdings in Procore Technologies by 1.6% in the 2nd quarter. Brasada Capital Management LP now owns 31,560 shares of the company’s stock valued at $2,048,000 after acquiring an additional 497 shares during the period. Headlands Technologies LLC acquired a new stake in Procore Technologies during the second quarter worth approximately $216,000. Quest Partners LLC boosted its holdings in shares of Procore Technologies by 41,900.0% during the second quarter. Quest Partners LLC now owns 7,140 shares of the company’s stock worth $473,000 after acquiring an additional 7,123 shares during the period. Finally, Caprock Group LLC boosted its holdings in shares of Procore Technologies by 260.7% during the second quarter. Caprock Group LLC now owns 17,772 shares of the company’s stock worth $1,178,000 after acquiring an additional 12,845 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Connor Kevin J. O sold 25,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $57.53, for a total value of $1,438,250.00. Following the transaction, the director now directly owns 1,380,078 shares in the company, valued at approximately $79,395,887.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Benjamin C. Singer sold 2,000 shares of Procore Technologies stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the insider now owns 106,705 shares of the company’s stock, valued at $7,469,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 25,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $57.53, for a total value of $1,438,250.00. Following the completion of the sale, the director now directly owns 1,380,078 shares of the company’s stock, valued at $79,395,887.34. The disclosure for this sale can be found here. Insiders sold a total of 99,890 shares of company stock worth $5,947,691 over the last quarter. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Price Performance

PCOR stock opened at $59.04 on Friday. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of -61.50 and a beta of 0.73. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $59.05 and its 200 day simple moving average is $66.36. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $83.35.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCOR. BMO Capital Markets dropped their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. KeyCorp dropped their price target on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus reduced their target price on Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Barclays downgraded Procore Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $78.00 to $54.00 in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.50.

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.