Procore Technologies (NYSE:PCOR) Chairman Craig Jr. Courtemanche Sells 75,000 Shares

Procore Technologies, Inc. (NYSE:PCOR) Chairman Craig Jr. Courtemanche sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $72.70, for a total value of $5,452,500.00. Following the transaction, the chairman directly owned 1,155,480 shares of the company’s stock, valued at approximately $84,003,396. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Procore Technologies Stock Up 1.6%

Shares of NYSE PCOR traded up $1.17 during midday trading on Wednesday, reaching $73.43. The company’s stock had a trading volume of 881,775 shares, compared to its average volume of 1,198,924. The stock has a 50 day simple moving average of $74.14 and a 200-day simple moving average of $71.03. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of -87.41 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. The business 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%. Equities research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PCOR shares. Berenberg Bank initiated coverage on Procore Technologies in a report on Friday, October 3rd. They issued a “buy” rating and a $84.00 price objective for the company. Canaccord Genuity Group increased their price target on Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. DA Davidson upgraded Procore Technologies to a “hold” rating in a research note on Friday, November 7th. KeyCorp upped their price objective on Procore Technologies from $81.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, BMO Capital Markets increased their price objective on Procore Technologies from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Fourteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Swiss Life Asset Management Ltd boosted its holdings in shares of Procore Technologies by 70.7% during the third quarter. Swiss Life Asset Management Ltd now owns 5,006 shares of the company’s stock worth $365,000 after acquiring an additional 2,073 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Procore Technologies during the 3rd quarter worth approximately $18,962,000. Wilmington Savings Fund Society FSB acquired a new stake in Procore Technologies during the 3rd quarter worth approximately $34,000. Coldstream Capital Management Inc. boosted its stake in Procore Technologies by 42.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,937 shares of the company’s stock valued at $433,000 after purchasing an additional 1,757 shares during the period. Finally, Danske Bank A S acquired a new position in Procore Technologies in the 3rd quarter valued at $117,000. 81.10% of the stock is owned by institutional investors and hedge funds.

About Procore Technologies

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.