Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CEO Sells $4,689,960.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche sold 68,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total value of $4,689,960.00. Following the transaction, the chief executive officer now directly owns 530,049 shares in the company, valued at approximately $36,557,479.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Procore Technologies Trading Down 1.6 %

Shares of NYSE:PCOR opened at $68.14 on Monday. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $83.35. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $9.87 billion, a P/E ratio of -70.98 and a beta of 0.78. The firm has a fifty day moving average of $76.24 and a two-hundred day moving average of $68.93.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 8.37% and a negative net margin of 13.64%. The firm had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. On average, equities analysts expect that Procore Technologies, Inc. will post -0.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on PCOR shares. Canaccord Genuity Group cut their price target on Procore Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Stifel Nicolaus increased their price objective on shares of Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 16th. JMP Securities increased their price objective on Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a report on Friday, February 16th. JPMorgan Chase & Co. upped their price objective on shares of Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Barclays lowered their price target on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and an average target price of $81.79.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently made changes to their positions in the company. BluePath Capital Management LLC acquired a new stake in Procore Technologies in the third quarter valued at approximately $36,000. International Assets Investment Management LLC grew its position in Procore Technologies by 6,823.1% in the fourth 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. bought a new stake in Procore Technologies in the fourth quarter worth approximately $62,000. BI Asset Management Fondsmaeglerselskab A S grew its position in 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 in the last quarter. Finally, TFO Wealth Partners LLC grew its position in Procore Technologies by 43,600.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock worth $151,000 after acquiring an additional 2,180 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.