Procore Technologies (NYSE:PCOR) Insider Benjamin Singer Sells 3,942 Shares

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 3,942 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $50.00, for a total transaction of $197,100.00. Following the sale, the insider owned 96,723 shares in the company, valued at approximately $4,836,150. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Performance

PCOR traded down $2.52 on Tuesday, hitting $52.71. 2,786,256 shares of the company’s stock were exchanged, compared to its average volume of 2,787,905. The firm has a market cap of $7.95 billion, a PE ratio of -103.35 and a beta of 0.73. Procore Technologies, Inc. has a twelve month low of $45.02 and a twelve month high of $82.32. The stock has a fifty day moving average of $52.74 and a two-hundred day moving average of $61.02. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Tuesday, May 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.The firm had revenue of $359.28 million during the quarter, compared to the consensus estimate of $352.82 million. During the same quarter last year, the company posted $0.23 EPS. Procore Technologies’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, research analysts anticipate that Procore Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Procore Technologies by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 13,158,506 shares of the company’s stock worth $957,150,000 after purchasing an additional 804,920 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Procore Technologies by 493.9% in the 3rd quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock valued at $445,391,000 after purchasing an additional 5,079,534 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Procore Technologies by 6.8% in the 3rd quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company’s stock valued at $362,560,000 after purchasing an additional 315,604 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Procore Technologies by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 3,539,062 shares of the company’s stock valued at $257,431,000 after purchasing an additional 137,171 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Procore Technologies by 3.9% in the 4th quarter. Principal Financial Group Inc. now owns 3,428,825 shares of the company’s stock valued at $249,416,000 after purchasing an additional 127,256 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

PCOR has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Barclays cut their price objective on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Piper Sandler decreased their target price on Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. TD Cowen decreased their target price on Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Procore Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.56.

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.