Lawrence Joseph Stack Sells 12,000 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CRO Lawrence Joseph Stack sold 12,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares in the company, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Procore Technologies Stock Down 0.9 %

Shares of PCOR stock traded down $0.78 during trading on Friday, hitting $82.28. 1,628,367 shares of the company were exchanged, compared to its average volume of 1,377,505. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of -114.27 and a beta of 0.84. The business’s 50-day simple moving average is $78.09 and its 200 day simple moving average is $69.37. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

PCOR has been the topic of several research analyst reports. JMP Securities raised their target price on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday. DA Davidson raised their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $100.00 in a research note on Monday, January 6th. Robert W. Baird raised their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.94.

Institutional Trading of Procore Technologies

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Procore Technologies by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock worth $891,692,000 after purchasing an additional 838,925 shares during the period. Capital World Investors raised its position in Procore Technologies by 453.6% during the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock valued at $233,704,000 after acquiring an additional 2,555,612 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Procore Technologies by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after acquiring an additional 1,425,967 shares in the last quarter. Meritage Group LP raised its position in Procore Technologies by 66.6% during the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after acquiring an additional 1,098,019 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after acquiring an additional 2,670,872 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.