William Fred Fleming, Jr. Sells 10,000 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) SVP William Fred Fleming, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $58.95, for a total value of $589,500.00. Following the transaction, the senior vice president owned 104,981 shares of the company’s stock, valued at $6,188,629.95. The trade was a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Procore Technologies Trading Up 7.3%

Shares of NYSE:PCOR traded up $4.23 during mid-day trading on Thursday, reaching $62.21. The stock had a trading volume of 4,747,594 shares, compared to its average volume of 3,894,934. The firm has a market cap of $9.45 billion, a PE ratio of -239.26 and a beta of 0.70. The firm has a 50 day simple moving average of $46.23 and a two-hundred day simple moving average of $51.10. Procore Technologies, Inc. has a twelve month low of $38.03 and a twelve month high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $375.21 million during the quarter, compared to analysts’ expectations of $365.82 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts anticipate that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. lifted its holdings in shares of Procore Technologies by 7,100.0% in the first quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock valued at $25,000 after purchasing an additional 426 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Procore Technologies in the 3rd quarter valued at approximately $34,000. Twin Tree Management LP acquired a new stake in Procore Technologies in the 2nd quarter valued at approximately $40,000. Allworth Financial LP lifted its stake in Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after acquiring an additional 204 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in Procore Technologies in the 2nd quarter valued at approximately $52,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on PCOR. The Goldman Sachs Group lowered their price objective on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. BMO Capital Markets lifted their target price on Procore Technologies from $56.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. UBS Group boosted their target price on Procore Technologies from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target for the company in a report on Wednesday, April 29th. Finally, Piper Sandler dropped their price target on Procore Technologies from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average price target 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.