Procore Technologies, Inc. (NYSE:PCOR) Insider Sells $207,150.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 3,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $69.05, for a total value of $207,150.00. Following the completion of the transaction, the insider now directly owns 122,321 shares in the company, valued at approximately $8,446,265.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Procore Technologies Stock Down 1.6 %

Procore Technologies stock opened at $68.14 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35. The company has a fifty day simple moving average of $76.24 and a 200 day simple moving average of $68.93. The company has a market cap of $9.87 billion, a P/E ratio of -70.98 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 8.37% and a negative net margin of 13.64%. The company had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. Research analysts anticipate that Procore Technologies, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in PCOR. BluePath Capital Management LLC acquired a new stake in Procore Technologies in the third quarter valued at $36,000. International Assets Investment Management LLC lifted its stake in Procore Technologies by 6,823.1% in 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 last quarter. Cullen Frost Bankers Inc. bought a new position in Procore Technologies during the fourth quarter worth about $62,000. BI Asset Management Fondsmaeglerselskab A S increased its position in Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after buying an additional 297 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its stake in Procore Technologies by 43,600.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after buying an additional 2,180 shares during the period. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets cut their price target on shares of Procore Technologies from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday. Mizuho reduced their price target on shares of Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. Canaccord Genuity Group lowered their price objective on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. Piper Sandler dropped their price objective on Procore Technologies from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, JMP Securities raised their price target on Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.79.

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.