Procore Technologies (NYSE:PCOR) Director Connor Kevin O Sells 15,386 Shares

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 15,386 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $54.93, for a total transaction of $845,152.98. Following the sale, the director owned 946,746 shares in the company, valued at approximately $52,004,757.78. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Price Performance

PCOR stock traded down $0.40 during mid-day trading on Wednesday, reaching $55.51. The company had a trading volume of 3,375,401 shares, compared to its average volume of 3,734,232. Procore Technologies, Inc. has a 52 week low of $38.03 and a 52 week high of $82.32. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of -213.48 and a beta of 0.70. The stock has a 50 day simple moving average of $45.36 and a two-hundred day simple moving average of $51.42.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The company had revenue of $375.21 million for the quarter, compared to analyst estimates of $365.82 million. During the same period in the prior year, the firm earned $0.35 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts predict that Procore Technologies, Inc. will post 0.09 EPS for the current year.

Institutional Trading of Procore Technologies

Several institutional investors have recently bought and sold shares of PCOR. Blue Owl Capital Holdings LP bought a new stake in Procore Technologies in the 4th quarter worth approximately $6,857,000. Robinhood Asset Management LLC bought a new stake in Procore Technologies during the 4th quarter valued at approximately $7,136,000. Stephens Investment Management Group LLC boosted its position in shares of Procore Technologies by 23.3% during the first quarter. Stephens Investment Management Group LLC now owns 543,159 shares of the company’s stock worth $30,960,000 after acquiring an additional 102,574 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Procore Technologies by 105.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 45,802 shares of the company’s stock valued at $3,332,000 after purchasing an additional 23,555 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Procore Technologies during the 1st quarter worth approximately $3,181,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citizens Jmp raised shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price on the stock in a report on Wednesday, April 29th. Piper Sandler decreased their price target on shares of Procore Technologies from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Procore Technologies in a report on Monday, July 6th. BTIG Research reissued a “buy” rating and issued a $66.00 price target on shares of Procore Technologies in a report on Friday, July 24th. Finally, UBS Group lifted their target price on shares of Procore Technologies from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.44.

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.