Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells 6,410 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 6,410 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $76.62, for a total transaction of $491,134.20. Following the completion of the sale, the director now owns 1,250,598 shares in the company, valued at approximately $95,820,818.76. This trade represents a 0.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Procore Technologies Stock Performance

Shares of NYSE PCOR traded up $2.03 during midday trading on Wednesday, hitting $76.85. 1,145,212 shares of the company’s stock were exchanged, compared to its average volume of 1,150,415. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $86.67. The firm has a market cap of $11.42 billion, a P/E ratio of -153.70 and a beta of 0.83. The stock’s 50 day moving average price is $76.72 and its 200-day moving average price is $67.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on PCOR shares. Robert W. Baird upped their price objective on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Canaccord Genuity Group boosted their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Mizuho raised their price objective on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. The Goldman Sachs Group boosted their target price on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $100.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.00.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors have recently bought and sold shares of PCOR. Assenagon Asset Management S.A. raised its position in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after buying an additional 1,425,967 shares in the last quarter. XN LP increased its stake in shares of Procore Technologies by 101.1% during 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 period. Meritage Group LP increased 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 valued at $169,453,000 after acquiring an additional 1,098,019 shares during the period. Janus Henderson Group PLC raised its holdings in 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 purchasing an additional 1,297,151 shares in the last quarter. Finally, Dragoneer Investment Group LLC lifted its position in Procore Technologies by 254.0% in 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. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.