Craig F. Jr. Courtemanche Sells 22,665 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche sold 22,665 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the sale, the chief executive officer now directly owns 770,458 shares of the company’s stock, valued at $54,979,882.88. This trade represents a 2.86 % 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 Stock Up 1.9 %

Shares of NYSE:PCOR opened at $76.68 on Monday. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $11.40 billion, a PE ratio of -153.36 and a beta of 0.71. The business has a 50 day simple moving average of $64.19 and a two-hundred day simple moving average of $63.92.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, equities analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Analyst Ratings Changes

PCOR has been the subject of a number of recent analyst reports. JMP Securities decreased their target price on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a research report on Thursday, October 31st. Canaccord Genuity Group boosted their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a report on Friday. KeyCorp raised their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group boosted their price target on Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Finally, Macquarie reissued a “neutral” rating and set a $70.00 price objective on shares of Procore Technologies in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Coldstream Capital Management Inc. purchased a new stake in Procore Technologies in the third quarter valued at about $235,000. Geode Capital Management LLC boosted its stake in Procore Technologies by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company’s stock worth $105,967,000 after purchasing an additional 168,769 shares in the last quarter. Bullseye Asset Management LLC grew its position in Procore Technologies by 50.0% during the 3rd quarter. Bullseye Asset Management LLC now owns 14,993 shares of the company’s stock worth $925,000 after purchasing an additional 5,000 shares during the last quarter. M&T Bank Corp purchased a new stake in Procore Technologies during the 3rd quarter worth approximately $250,000. Finally, Barclays PLC increased its stake in Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company’s stock valued at $4,259,000 after purchasing an additional 22,734 shares in the last quarter. Institutional investors 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.