Procore Technologies (NYSE:PCOR) Chairman Craig Jr. Courtemanche Sells 300,000 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Chairman Craig Jr. Courtemanche sold 300,000 shares of Procore Technologies stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $71.91, for a total value of $21,573,000.00. Following the completion of the sale, the chairman directly owned 677,796 shares in the company, valued at $48,740,310.36. This trade represents a 30.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Procore Technologies Price Performance

Procore Technologies stock traded up $1.58 during midday trading on Friday, reaching $71.07. 1,831,651 shares of the stock traded hands, compared to its average volume of 1,557,038. The stock has a market cap of $11.05 billion, a P/E ratio of -84.61 and a beta of 0.90. The stock’s fifty day moving average is $73.22 and its 200-day moving average is $70.18. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 12 month low of $53.71 and a 12 month high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The firm had revenue of $172.21 million for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%. As a group, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

PCOR has been the subject of several research reports. Citizens Jmp lowered shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 1st. KeyCorp increased their price target on shares of Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Berenberg Bank assumed coverage on Procore Technologies in a research note on Friday, October 3rd. They set a “buy” rating and a $84.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. Finally, JMP Securities reiterated a “market perform” rating and issued a $95.00 target price on shares of Procore Technologies in a report on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.47.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PCOR. Versant Capital Management Inc raised 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 grew its position in 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 during the last quarter. Intellectus Partners LLC grew its position in Procore Technologies by 1.6% in the 3rd quarter. Intellectus Partners LLC now owns 12,505 shares of the company’s stock valued at $912,000 after acquiring an additional 200 shares during the last quarter. George Kaiser Family Foundation increased its stake in Procore Technologies by 1.0% in the second quarter. George Kaiser Family Foundation now owns 23,168 shares of the company’s stock worth $1,585,000 after purchasing an additional 240 shares during the period. Finally, TFB Advisors LLC lifted its position in shares of Procore Technologies by 8.1% during the first quarter. TFB Advisors LLC now owns 3,543 shares of the company’s stock worth $234,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.