Procore Technologies, Inc. (NYSE:PCOR) Director Sells $299,885.44 in 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 Thursday, September 19th. The stock was sold at an average price of $58.48, for a total transaction of $299,885.44. Following the sale, the director now directly owns 1,360,848 shares of the company’s stock, valued at approximately $79,582,391.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Procore Technologies Stock Down 0.9 %

PCOR opened at $59.49 on Friday. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The firm has a market capitalization of $8.79 billion, a P/E ratio of -61.97 and a beta of 0.73. The company’s 50-day moving average is $60.47 and its 200 day moving average is $67.44. 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 posted its earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.25 by $0.14. The firm 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%. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.28) EPS. Research analysts expect that Procore Technologies, Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Procore Technologies during the 4th quarter worth $68,005,000. Artisan Partners Limited Partnership increased its holdings in Procore Technologies by 81.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 652,985 shares of the company’s stock worth $45,200,000 after buying an additional 293,613 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Procore Technologies by 29.2% in 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 period. M&G Plc purchased a new position in Procore Technologies in the first quarter valued at about $8,798,000. Finally, Eventide Asset Management LLC bought a new position in shares of Procore Technologies during the 4th quarter valued at approximately $3,302,000. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of research reports. Mizuho restated a “neutral” rating and issued a $70.00 price target (down from $75.00) on shares of Procore Technologies in a report on Tuesday, June 4th. BMO Capital Markets reduced their target price on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. DA Davidson downgraded Procore Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $60.00 in a research note on Friday, August 2nd. Scotiabank cut their price target on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Finally, TD Cowen began coverage on Procore Technologies in a report on Wednesday, June 12th. They set a “buy” rating and a $85.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and an average target price of $69.27.

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.