Procore Technologies, Inc. (NASDAQ:PCOR) Director William J.G. Griffith Acquires 171,489 Shares of Stock

Procore Technologies, Inc. (NASDAQ:PCORGet Rating) Director William J.G. Griffith purchased 171,489 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The shares were purchased at an average cost of $42.81 per share, for a total transaction of $7,341,444.09. Following the completion of the purchase, the director now owns 1,069,534 shares in the company, valued at approximately $45,786,750.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PCOR stock opened at $44.64 on Friday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $48.56 and a 200-day moving average of $61.08. Procore Technologies, Inc. has a 12-month low of $40.00 and a 12-month high of $108.75.

Procore Technologies (NASDAQ:PCORGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.05. Procore Technologies had a negative return on equity of 23.19% and a negative net margin of 54.32%. The business had revenue of $159.52 million for the quarter, compared to the consensus estimate of $150.25 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Procore Technologies’s revenue for the quarter was up 40.0% on a year-over-year basis. As a group, analysts expect that Procore Technologies, Inc. will post -1.81 EPS for the current year.

A number of research analysts recently weighed in on PCOR shares. Barclays dropped their price target on Procore Technologies from $76.00 to $70.00 in a research note on Thursday, May 5th. Mizuho dropped their price target on Procore Technologies from $75.00 to $70.00 in a research note on Thursday, May 5th. Jefferies Financial Group dropped their price target on Procore Technologies from $90.00 to $75.00 in a research note on Monday, May 23rd. JPMorgan Chase & Co. decreased their price objective on Procore Technologies from $113.00 to $95.00 in a report on Thursday. Finally, Piper Sandler decreased their price objective on Procore Technologies from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, February 23rd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Procore Technologies currently has a consensus rating of “Buy” and an average price target of $86.73.

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new stake in shares of Procore Technologies during the first quarter worth $31,000. Royal Bank of Canada purchased a new stake in shares of Procore Technologies during the second quarter worth $36,000. First Horizon Advisors Inc. purchased a new stake in shares of Procore Technologies during the first quarter worth $37,000. Advisors Asset Management Inc. purchased a new stake in shares of Procore Technologies during the first quarter worth $42,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in shares of Procore Technologies during the third quarter worth $44,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

About Procore Technologies (Get Rating)

Procore Technologies, Inc provides 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

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