Procore Technologies, Inc. (NYSE:PCOR) Insider Sells $550,904.67 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Steven Scott Davis sold 7,851 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total value of $550,904.67. Following the sale, the insider now owns 219,652 shares of the company’s stock, valued at approximately $15,412,980.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, March 13th, Steven Scott Davis sold 57,666 shares of Procore Technologies stock. The stock was sold at an average price of $79.11, for a total value of $4,561,957.26.

Procore Technologies Stock Performance

PCOR traded up $0.56 on Friday, reaching $68.73. The company had a trading volume of 773,781 shares, compared to its average volume of 1,258,902. The company’s fifty day moving average is $73.70 and its 200 day moving average is $69.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a market cap of $10.06 billion, a P/E ratio of -71.04 and a beta of 0.78. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The company had revenue of $269.43 million for the quarter, compared to analyst estimates of $263.13 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. As a group, analysts predict that Procore Technologies, Inc. will post -0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PCOR. Piper Sandler cut their price objective on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. KeyCorp lifted their price objective on Procore Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. BMO Capital Markets cut their target price on Procore Technologies from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. The Goldman Sachs Group lifted their price target on shares of Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Mizuho reduced their price objective on shares of Procore Technologies from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.79.

Hedge Funds Weigh In On Procore Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in shares of Procore Technologies by 6,823.1% during the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after acquiring an additional 887 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Procore Technologies in the fourth quarter valued at about $62,000. Advisors Asset Management Inc. raised its stake in Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after acquiring an additional 260 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after acquiring an additional 297 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Procore Technologies by 29.3% in the 1st quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after purchasing an additional 300 shares in the last quarter. Institutional investors 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.