Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells 7,692 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 7,692 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.34, for a total value of $502,595.28. Following the transaction, the director now directly owns 1,177,516 shares in the company, valued at $76,938,895.44. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Procore Technologies Stock Performance

Procore Technologies stock opened at $66.54 on Friday. The stock’s 50 day simple moving average is $65.57 and its two-hundred day simple moving average is $71.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of -77.37 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $310.63 million for the quarter, compared to analysts’ expectations of $302.66 million. Procore Technologies had a negative return on equity of 6.54% and a negative net margin of 10.73%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. As a group, analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Procore Technologies

Several large investors have recently bought and sold shares of PCOR. Voya Investment Management LLC lifted its holdings in shares of Procore Technologies by 3.0% during the first quarter. Voya Investment Management LLC now owns 451,441 shares of the company’s stock valued at $29,804,000 after purchasing an additional 12,963 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Procore Technologies by 9.6% during the first quarter. Rhumbline Advisers now owns 154,541 shares of the company’s stock valued at $10,203,000 after purchasing an additional 13,534 shares during the last quarter. Ellsworth Advisors LLC lifted its holdings in shares of Procore Technologies by 6.5% during the first quarter. Ellsworth Advisors LLC now owns 8,900 shares of the company’s stock valued at $588,000 after purchasing an additional 545 shares during the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Procore Technologies by 8.1% during the first quarter. Advisors Capital Management LLC now owns 155,369 shares of the company’s stock valued at $10,257,000 after purchasing an additional 11,590 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Procore Technologies by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company’s stock valued at $23,156,000 after purchasing an additional 52,507 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PCOR shares. BMO Capital Markets reduced their price objective on Procore Technologies from $95.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. KeyCorp dropped their target price on shares of Procore Technologies from $96.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Scotiabank dropped their target price on shares of Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating for the company in a report on Thursday, April 24th. Jefferies Financial Group dropped their target price on shares of Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Barclays increased their target price on shares of Procore Technologies from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.83.

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.