Procore Technologies, Inc. (NYSE:PCOR) Director Sells $360,447.12 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $70.29, for a total value of $360,447.12. Following the transaction, the director now owns 1,489,183 shares in the company, valued at $104,674,673.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Procore Technologies Stock Up 0.9 %

Shares of PCOR opened at $68.75 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of -71.61 and a beta of 0.78. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35. The business’s 50 day simple moving average is $73.51 and its 200-day simple moving average is $69.90.

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

Institutional Investors Weigh In On Procore Technologies

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in shares of Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after purchasing an additional 887 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Procore Technologies in the fourth quarter worth $62,000. Advisors Asset Management Inc. lifted its position in Procore Technologies by 26.2% in the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after buying an additional 260 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake 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 period. Finally, Covestor Ltd increased its position in Procore Technologies by 29.3% during the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after acquiring an additional 300 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PCOR shares. Mizuho lowered their price objective on Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Barclays dropped their price target on shares of Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. DA Davidson restated a “buy” rating and set a $95.00 price objective on shares of Procore Technologies in a research report on Thursday, March 14th. BMO Capital Markets dropped their target price on shares of Procore Technologies from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Finally, JMP Securities raised their price target on Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $81.79.

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.