Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells $279,988.80 in Stock

Procore Technologies, Inc. (NYSE:PCOR – Get Rating) Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $54.60, for a total value of $279,988.80. Following the completion of the transaction, the director now directly owns 1,519,770 shares in the company, valued at $82,979,442. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Procore Technologies Stock Down 2.5 %

PCOR opened at $57.63 on Friday. The stock’s 50 day simple moving average is $56.54 and its 200-day simple moving average is $55.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.51 and a current ratio of 1.51. Procore Technologies, Inc. has a 1 year low of $40.00 and a 1 year high of $68.56.

Procore Technologies (NYSE:PCOR – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.02). Procore Technologies had a negative net margin of 36.03% and a negative return on equity of 19.75%. The business had revenue of $202.05 million during the quarter, compared to the consensus estimate of $190.26 million. On average, analysts expect that Procore Technologies, Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Procore Technologies

Institutional investors have recently made changes to their positions in the business. Pathstone Family Office LLC lifted its stake in Procore Technologies by 4.5% during the fourth quarter. Pathstone Family Office LLC now owns 4,692 shares of the company’s stock worth $228,000 after purchasing an additional 204 shares during the period. Treasurer of the State of North Carolina boosted its stake in Procore Technologies by 0.7% in the 1st quarter. Treasurer of the State of North Carolina now owns 31,083 shares of the company’s stock valued at $1,947,000 after buying an additional 220 shares in the last quarter. Taylor Frigon Capital Management LLC grew its position in Procore Technologies by 0.4% in the third quarter. Taylor Frigon Capital Management LLC now owns 60,687 shares of the company’s stock valued at $3,003,000 after acquiring an additional 229 shares during the period. Parallel Advisors LLC raised its stake in Procore Technologies by 6.7% during the fourth quarter. Parallel Advisors LLC now owns 4,022 shares of the company’s stock worth $190,000 after acquiring an additional 251 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Procore Technologies by 59.9% during the first quarter. US Bancorp DE now owns 673 shares of the company’s stock valued at $42,000 after acquiring an additional 252 shares during the period. 82.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCOR has been the topic of a number of recent analyst reports. DA Davidson started coverage on shares of Procore Technologies in a research report on Tuesday, March 21st. They issued a “buy” rating and a $72.00 price target on the stock. Piper Sandler lifted their target price on shares of Procore Technologies from $60.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, February 17th. Stifel Nicolaus decreased their price target on shares of Procore Technologies from $79.00 to $67.00 in a report on Thursday, May 4th. JMP Securities reiterated a “market outperform” rating and issued a $75.00 price objective on shares of Procore Technologies in a research note on Monday, April 17th. Finally, The Goldman Sachs Group upgraded Procore Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $63.00 to $75.00 in a research note on Thursday, May 4th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

About Procore Technologies

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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.