Connor Kevin J. O Sells 8,974 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 8,974 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total value of $521,030.44. Following the transaction, the director now directly owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Procore Technologies Stock Down 0.9 %

Shares of NYSE:PCOR opened at $59.49 on Friday. The company’s fifty day moving average is $60.62 and its 200-day moving average is $67.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. Procore Technologies, Inc. has a 52 week low of $48.11 and a 52 week high of $83.35. The company has a market capitalization of $8.79 billion, a PE ratio of -61.97 and a beta of 0.73.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The firm had revenue of $284.30 million for the quarter, compared to analyst estimates of $275.26 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) earnings per share. Equities research analysts predict that Procore Technologies, Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Large investors have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares in the last quarter. Rothschild Investment LLC bought a new stake in Procore Technologies during the 2nd quarter worth about $51,000. Quarry LP increased its position in Procore Technologies by 984.6% in the 2nd quarter. Quarry LP now owns 1,128 shares of the company’s stock valued at $75,000 after acquiring an additional 1,024 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Procore Technologies by 26.2% in 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 during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after purchasing an additional 297 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PCOR has been the subject of a number of research analyst reports. Macquarie reiterated a “neutral” rating and set a $70.00 price target on shares of Procore Technologies in a report on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price target on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. BMO Capital Markets cut their price objective on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. JMP Securities reduced their target price on shares of Procore Technologies from $93.00 to $82.00 and set a “market outperform” rating for the company in a research note on Friday, August 2nd. Finally, TD Cowen initiated coverage on Procore Technologies in a research note on Wednesday, June 12th. They set a “buy” rating and a $85.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $69.31.

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.