Procore Technologies, Inc. (NYSE:PCOR) CRO Sells $995,040.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CRO Lawrence Joseph Stack sold 12,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total value of $995,040.00. Following the completion of the sale, the executive now directly owns 161,368 shares of the company’s stock, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $82.28 on Monday. The company has a market cap of $12.23 billion, a PE ratio of -114.27 and a beta of 0.84. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The business has a 50 day moving average price of $78.09 and a 200-day moving average price of $69.61. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million during the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays upped their target price on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Piper Sandler upped their target price on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. KeyCorp increased their price target on Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Canaccord Genuity Group increased their price target on Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $89.94.

Institutional Trading of Procore Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PCOR. Principal Financial Group Inc. increased its position in shares of Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after acquiring an additional 2,670,872 shares during the last quarter. Capital World Investors increased its position in shares of Procore Technologies by 453.6% during the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock valued at $233,704,000 after acquiring an additional 2,555,612 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Procore Technologies during the fourth quarter valued at approximately $131,840,000. Wasatch Advisors LP increased its position in shares of Procore Technologies by 27,239.5% during the third quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after acquiring an additional 1,575,534 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Procore Technologies during the third quarter valued at approximately $88,572,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.