Procore Technologies (NYSE:PCOR) Director Sells $523,825.20 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 9,615 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $54.48, for a total value of $523,825.20. Following the sale, the director owned 1,012,136 shares in the company, valued at approximately $55,141,169.28. The trade was a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Procore Technologies Stock Performance

Shares of NYSE:PCOR traded down $0.78 during trading on Friday, hitting $55.03. The stock had a trading volume of 2,149,100 shares, compared to its average volume of 3,470,308. The company has a quick ratio of 1.33, a current ratio of 1.32 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 12-month low of $46.08 and a 12-month high of $82.32. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of -82.13 and a beta of 0.89. The stock has a 50-day simple moving average of $62.68 and a two-hundred day simple moving average of $68.86.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The company had revenue of $349.11 million for the quarter, compared to the consensus estimate of $340.80 million. During the same quarter in the prior year, the company earned $0.01 EPS. Procore Technologies’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Procore Technologies

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC raised its stake in shares of Procore Technologies by 465.2% during the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after buying an additional 321 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Procore Technologies in the 3rd quarter worth $34,000. Jones Financial Companies Lllp raised its position in Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 199 shares during the period. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the fourth quarter worth $41,000. Finally, Allworth Financial LP lifted its holdings in Procore Technologies by 48.2% during the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after purchasing an additional 204 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on PCOR shares. DA Davidson lowered their price target on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. BMO Capital Markets dropped their target price on Procore Technologies from $87.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. TD Cowen lifted their price target on Procore Technologies from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Barclays dropped their price objective on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. Seventeen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.95.

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.