Insider Selling: Procore Technologies (NYSE:PCOR) Director Sells 5,769 Shares of Stock

by · The Markets Daily

Procore Technologies, Inc. (NYSE:PCOR – Get Free Report) Director Connor Kevin O sold 5,769 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $50.52, for a total transaction of $291,449.88. Following the sale, the director owned 1,021,751 shares in the company, valued at $51,618,860.52. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Procore Technologies Price Performance

Shares of PCOR traded down $0.78 during midday trading on Friday, hitting $55.03. 2,149,100 shares of the company traded hands, compared to its average volume of 3,470,308. The stock has a 50-day moving average of $62.68 and a 200-day moving average of $68.86. The firm has a market cap of $8.26 billion, a P/E ratio of -82.13 and a beta of 0.89. Procore Technologies, Inc. has a one year low of $46.08 and a one year high of $82.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.33.

Procore Technologies (NYSE:PCOR – Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $349.11 million during the quarter, compared to the consensus estimate of $340.80 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. As a group, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its holdings in shares of Procore Technologies by 465.2% during the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after purchasing an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Procore Technologies during the third quarter valued at $34,000. Jones Financial Companies Lllp boosted its position in shares of Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after buying an additional 199 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Procore Technologies during the 4th quarter valued at about $41,000. Finally, Allworth Financial LP grew its stake in shares of Procore Technologies by 48.2% in the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after acquiring an additional 204 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PCOR shares. Piper Sandler reduced their target price on Procore Technologies from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. UBS Group reduced their price target on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. KeyCorp reduced their target price on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. BTIG Research reduced their price target on Procore Technologies from $88.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Canaccord Genuity Group cut their target price on shares of Procore Technologies from $90.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.95.

View Our Latest Research Report on Procore Technologies

Procore Technologies Company Profile

(Get Free Report)

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.

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