Procore Technologies, Inc. (NYSE:PCOR) Insider Sells $496,665.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Steven Scott Davis sold 7,641 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $65.00, for a total value of $496,665.00. Following the sale, the insider now owns 209,837 shares in the company, valued at $13,639,405. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Steven Scott Davis also recently made the following trade(s):

• On Friday, June 14th, Steven Scott Davis sold 2,174 shares of Procore Technologies stock. The shares were sold at an average price of $65.77, for a total value of $142,983.98.
• On Wednesday, May 22nd, Steven Scott Davis sold 7,851 shares of Procore Technologies stock. The shares were sold at an average price of $70.17, for a total value of $550,904.67.

Procore Technologies Stock Performance

NYSE:PCOR opened at $66.32 on Friday. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $83.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61. The business has a 50 day simple moving average of $67.42 and a 200 day simple moving average of $71.31.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The business had revenue of $269.43 million during the quarter, compared to analyst estimates of $263.13 million. On average, equities analysts anticipate that Procore Technologies, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PCOR. TD Cowen started coverage on Procore Technologies in a research note on Wednesday, June 12th. They set a “buy” rating and a $85.00 target price for the company. Piper Sandler reduced their price objective on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $85.00 price target on shares of Procore Technologies in a research report on Tuesday, June 11th. Finally, DA Davidson reissued a “buy” rating and issued a $95.00 price objective on shares of Procore Technologies in a report on Thursday, March 14th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in Procore Technologies by 6,823.1% during the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after purchasing an additional 887 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Procore Technologies during the 4th quarter valued at approximately $62,000. Advisors Asset Management Inc. boosted its position in Procore Technologies by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after purchasing an additional 260 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after purchasing an additional 297 shares during the period. Finally, Covestor Ltd raised its stake in Procore Technologies by 29.3% during the 1st quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.