Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells 5,128 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $67.10, for a total transaction of $344,088.80. Following the completion of the sale, the director now owns 1,226,240 shares of the company’s stock, valued at approximately $82,280,704. This trade represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Procore Technologies Stock Performance

PCOR opened at $68.28 on Friday. The firm has a market capitalization of $10.24 billion, a PE ratio of -94.83 and a beta of 0.85. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The firm’s 50-day moving average price is $77.06 and its 200 day moving average price is $71.15. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business 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, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on PCOR shares. UBS Group raised their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Piper Sandler raised their target price on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Robert W. Baird lifted their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. JMP Securities lifted their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Four equities 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.24.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in 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 acquiring an additional 838,925 shares during the last quarter. Capital World Investors boosted its holdings in Procore Technologies by 453.6% in the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock valued at $233,704,000 after purchasing an additional 2,555,612 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Procore Technologies by 99.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after purchasing an additional 1,425,967 shares during the last quarter. Meritage Group LP boosted its holdings in Procore Technologies by 66.6% in the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after purchasing an additional 1,098,019 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Procore Technologies by 29,376.1% in the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during 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.