Procore Technologies, Inc. (NYSE:PCOR) Insider Sells $117,000.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the insider now directly owns 83,039 shares in the company, valued at $6,477,042. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Procore Technologies Stock Performance

Procore Technologies stock opened at $78.03 on Friday. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The stock has a market cap of $11.60 billion, a price-to-earnings ratio of -156.05 and a beta of 0.83. The stock’s 50 day simple moving average is $77.80 and its two-hundred day simple moving average is $67.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last issued its quarterly 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 company had revenue of $295.89 million for 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%. As a group, analysts expect that Procore Technologies, Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PCOR. GAMMA Investing LLC grew its holdings in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies in the 3rd quarter worth approximately $26,000. Versant Capital Management Inc grew its stake in shares of Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. International Assets Investment Management LLC increased its position in Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares in the last quarter. Finally, Hilltop National Bank purchased a new position in Procore Technologies during the fourth quarter valued at $53,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PCOR has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $100.00 in a research note on Monday, January 6th. KeyCorp raised their price target on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Piper Sandler boosted their price objective on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, DA Davidson raised their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

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.