Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells 5,128 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total transaction of $318,294.96. Following the sale, the director now directly owns 1,355,720 shares of the company’s stock, valued at $84,149,540.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $62.80 on Friday. The company has a market capitalization of $9.19 billion, a P/E ratio of -65.42 and a beta of 0.73. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35. The firm’s 50 day simple moving average is $59.67 and its two-hundred day simple moving average is $64.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.55 and a quick ratio of 1.55.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The company had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $275.26 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. Procore Technologies’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.28) EPS. Research analysts expect that Procore Technologies, Inc. will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on PCOR. Baird R W raised Procore Technologies to a “strong-buy” rating in a report on Tuesday, September 24th. The Goldman Sachs Group decreased their target price on Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus dropped their price target on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Robert W. Baird initiated coverage on shares of Procore Technologies in a report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.13.

Institutional Trading of Procore Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC boosted its position in shares of Procore Technologies by 29.2% during the first quarter. Orion Portfolio Solutions LLC now owns 75,840 shares of the company’s stock worth $6,232,000 after acquiring an additional 17,119 shares during the last quarter. M&G Plc bought a new stake in shares of Procore Technologies in the first quarter worth about $8,798,000. Swiss National Bank lifted its position in shares of Procore Technologies by 9.3% in the first quarter. Swiss National Bank now owns 184,100 shares of the company’s stock worth $15,127,000 after buying an additional 15,700 shares in the last quarter. BNP Paribas purchased a new position in Procore Technologies during the 1st quarter valued at approximately $1,349,000. Finally, Park Avenue Securities LLC increased its stake in Procore Technologies by 16.9% in the 2nd quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock worth $580,000 after acquiring an additional 1,266 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

About Procore Technologies

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.