Craig Jr. Courtemanche Sells 56,122 Shares of Procore Technologies (NYSE:PCOR) Stock

by · The Markets Daily

Procore Technologies, Inc. (NYSE:PCOR – Get Free Report) Chairman Craig Jr. Courtemanche sold 56,122 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $53.48, for a total value of $3,001,404.56. Following the completion of the sale, the chairman owned 908,316 shares in the company, valued at approximately $48,576,739.68. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Trading Up 6.5%

Shares of NYSE PCOR traded up $3.44 during midday trading on Monday, reaching $56.70. The company’s stock had a trading volume of 1,909,141 shares, compared to its average volume of 2,680,752. Procore Technologies, Inc. has a one year low of $38.03 and a one year high of $82.32. The company has a market cap of $8.62 billion, a price-to-earnings ratio of -218.09 and a beta of 0.74. The company has a 50 day moving average price of $53.91 and a 200 day moving average price of $52.01.

Procore Technologies (NYSE:PCOR – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. The business had revenue of $375.21 million during the quarter, compared to analysts’ expectations of $365.82 million. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. Research analysts anticipate that Procore Technologies, Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Procore Technologies

Several large investors have recently made changes to their positions in PCOR. Argos Wealth Advisors LLC boosted its stake in Procore Technologies by 3.9% in the first quarter. Argos Wealth Advisors LLC now owns 5,154 shares of the company’s stock valued at $294,000 after buying an additional 195 shares in the last quarter. Intellectus Partners LLC increased its position in Procore Technologies by 1.6% during the 4th quarter. Intellectus Partners LLC now owns 12,705 shares of the company’s stock worth $924,000 after purchasing an additional 200 shares in the last quarter. 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 purchasing an additional 204 shares during the last quarter. George Kaiser Family Foundation grew its stake in shares of Procore Technologies by 0.5% during the fourth quarter. George Kaiser Family Foundation now owns 52,306 shares of the company’s stock worth $3,805,000 after buying an additional 241 shares during the last quarter. Finally, Strs Ohio increased its holdings in shares of Procore Technologies by 9.1% during the first quarter. Strs Ohio now owns 2,996 shares of the company’s stock worth $171,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. BTIG Research reaffirmed a “buy” rating and set a $66.00 price target on shares of Procore Technologies in a research report on Friday, July 24th. Piper Sandler decreased their price objective on Procore Technologies from $71.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Zacks Research raised shares of Procore Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. BMO Capital Markets lifted their price target on shares of Procore Technologies from $56.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Guggenheim initiated coverage on shares of Procore Technologies in a research note on Thursday, July 23rd. They set a “buy” rating and a $68.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.44.

View Our Latest Report on Procore Technologies

Procore Technologies Company Profile

(Get Free Report)

Procore Technologies, Inc (NYSE: PCOR) provides cloud-based construction management software. Its platform is designed to help construction companies and other industry participants manage projects, financial processes, field operations and collaboration across the project lifecycle.

The company’s products support preconstruction activities, project management, construction financial management, quality and safety programs, workforce coordination, asset management and project analytics.

Featured Articles