Insider Selling: Procore Technologies (NYSE:PCOR) Insider Sells $136,762.33 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 2,713 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $50.41, for a total transaction of $136,762.33. Following the completion of the sale, the insider directly owned 68,885 shares of the company’s stock, valued at $3,472,492.85. The trade was a 3.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Procore Technologies Stock Up 5.7%

Procore Technologies stock opened at $55.80 on Friday. Procore Technologies, Inc. has a 52 week low of $46.08 and a 52 week high of $82.32. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of -83.28 and a beta of 0.89. The company’s 50-day moving average price is $63.07 and its two-hundred day moving average price is $68.90. The company has a current ratio of 1.32, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $349.11 million during the quarter, compared to analysts’ expectations of $340.80 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. On average, analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Trading of Procore Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in shares of Procore Technologies by 23.6% in the third quarter. Versant Capital Management Inc now owns 938 shares of the company’s stock worth $68,000 after buying an additional 179 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 199 shares in the last quarter. Intellectus Partners LLC boosted its stake in Procore Technologies by 1.6% in the 3rd quarter. Intellectus Partners LLC now owns 12,505 shares of the company’s stock worth $912,000 after purchasing an additional 200 shares during the period. Chicago Partners Investment Group LLC grew its position in Procore Technologies by 1.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 14,685 shares of the company’s stock worth $1,068,000 after purchasing an additional 202 shares in the last quarter. Finally, Allworth Financial LP grew its position in Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

PCOR has been the topic of a number of research reports. TD Cowen boosted their price objective on Procore Technologies from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. KeyCorp lowered their target price on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Robert W. Baird boosted their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. DA Davidson reduced their price objective on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.