Procore Technologies, Inc. (NYSE:PCOR) Director Sells $377,523.36 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $73.62, for a total value of $377,523.36. Following the completion of the sale, the director now directly owns 1,264,700 shares of the company’s stock, valued at $93,107,214. This represents a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Procore Technologies Stock Performance

PCOR stock traded up $2.03 during midday trading on Wednesday, hitting $76.85. The stock had a trading volume of 1,145,212 shares, compared to its average volume of 1,150,415. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $86.67. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $76.72 and a 200 day simple moving average of $67.00. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of -153.70 and a beta of 0.83.

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

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP raised its holdings in shares of Procore Technologies by 39.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock worth $59,635,000 after buying an additional 272,030 shares in the last quarter. Barclays PLC boosted its stake in Procore Technologies by 49.1% in the 3rd quarter. Barclays PLC now owns 69,012 shares of the company’s stock valued at $4,259,000 after buying an additional 22,734 shares in the last quarter. Advantage Alpha Capital Partners LP grew its position in Procore Technologies by 30.2% in the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock valued at $7,825,000 after acquiring an additional 29,431 shares during the period. Diversified Trust Co raised its stake in Procore Technologies by 157.1% during the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock worth $3,795,000 after acquiring an additional 30,948 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in shares of Procore Technologies by 804.3% during the third quarter. Pathstone Holdings LLC now owns 145,802 shares of the company’s stock valued at $8,999,000 after acquiring an additional 129,679 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Mizuho boosted their price objective on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. UBS Group initiated coverage on shares of Procore Technologies in a research note on Monday, December 2nd. They issued a “buy” rating and a $105.00 target price on the stock. Scotiabank lifted their target price on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a report on Friday, November 22nd. Finally, Piper Sandler upped their price target on shares of Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

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.