53,299 Shares in Procore Technologies, Inc. $PCOR Acquired by Nan Fung Group Holdings Ltd

Nan Fung Group Holdings Ltd bought a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 53,299 shares of the company’s stock, valued at approximately $2,165,005,000. Procore Technologies comprises 1.6% of Nan Fung Group Holdings Ltd’s holdings, making the stock its 17th largest holding.

Several other large investors also recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in Procore Technologies during the second quarter worth approximately $238,000. Palidye Holdings Caymans Ltd acquired a new stake in shares of Procore Technologies in the 2nd quarter worth $1,247,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Procore Technologies in the 2nd quarter worth $650,000. Twin Tree Management LP purchased a new stake in shares of Procore Technologies in the second quarter valued at about $40,000. Finally, Bank of Nova Scotia acquired a new stake in Procore Technologies during the second quarter worth about $19,295,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Activity

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $45.14, for a total transaction of $2,533,347.08. Following the completion of the transaction, the chairman owned 919,704 shares in the company, valued at $41,515,438.56. The trade was a 5.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William Fred Fleming, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $58.95, for a total transaction of $589,500.00. Following the completion of the sale, the senior vice president directly owned 104,981 shares in the company, valued at approximately $6,188,629.95. This represents a 8.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 228,142 shares of company stock worth $11,333,234 over the last three months. Insiders own 16.80% of the company’s stock.

Procore Technologies Price Performance

PCOR stock opened at $62.10 on Tuesday. The firm has a market capitalization of $9.44 billion, a P/E ratio of -238.87 and a beta of 0.70. The business’s 50-day moving average is $48.57 and its two-hundred day moving average is $51.23. Procore Technologies, Inc. has a 1 year low of $38.03 and a 1 year high of $82.32.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The business had revenue of $375.21 million during the quarter, compared to the consensus estimate of $365.82 million. During the same period in the previous year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts expect that Procore Technologies, Inc. will post 0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

PCOR has been the subject of a number of recent analyst reports. BTIG Research restated a “buy” rating and set a $66.00 price target on shares of Procore Technologies in a report on Friday, July 24th. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price on the stock in a research report on Wednesday, April 29th. BMO Capital Markets upped their price target on Procore Technologies from $56.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Guggenheim started coverage on Procore Technologies in a report on Thursday, July 23rd. They set a “buy” rating and a $68.00 price target for the company. Finally, Barclays raised their price objective on Procore Technologies from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus target price of $70.44.

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.