Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Insider Sells 7,914 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Steven Scott Davis sold 7,914 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $564,743.04. Following the sale, the insider now owns 184,223 shares of the company’s stock, valued at $13,146,153.28. This represents a 4.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Steven Scott Davis also recently made the following trade(s):

• On Thursday, October 31st, Steven Scott Davis sold 9,671 shares of Procore Technologies stock. The shares were sold at an average price of $65.00, for a total transaction of $628,615.00.

Procore Technologies Trading Up 1.9 %

PCOR opened at $76.67 on Friday. The firm’s 50-day simple moving average is $64.19 and its 200-day simple moving average is $63.98. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $83.35.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PCOR shares. Piper Sandler lifted their price target on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday. Macquarie reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Procore Technologies in a report on Tuesday, July 30th. Robert W. Baird initiated coverage on shares of Procore Technologies in a report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 price target on the stock. Canaccord Genuity Group boosted their price objective on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group upped their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Procore Technologies by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock worth $764,111,000 after acquiring an additional 94,190 shares during the last quarter. XN LP increased its stake in Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after acquiring an additional 1,411,812 shares during the last quarter. Meritage Group LP grew its stake in shares of Procore Technologies by 66.6% during the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after buying an additional 1,098,019 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after buying an additional 1,297,151 shares during the last quarter. Finally, Dragoneer Investment Group LLC lifted its holdings in shares of Procore Technologies by 254.0% during the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after purchasing an additional 1,609,607 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.