Benjamin C. Singer Sells 1,500 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the sale, the insider now owns 83,039 shares in the company, valued at approximately $6,477,042. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Procore Technologies Trading Down 0.5 %

Shares of NYSE:PCOR opened at $78.03 on Friday. The stock has a 50 day moving average of $77.80 and a 200 day moving average of $67.60. The company has a market cap of $11.60 billion, a PE ratio of -156.05 and a beta of 0.83. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month 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.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, equities research analysts expect that Procore Technologies, Inc. will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

PCOR has been the subject of a number of research analyst reports. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $100.00 in a report on Monday, January 6th. Stifel Nicolaus boosted their target price on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Piper Sandler boosted their price objective 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. Finally, BMO Capital Markets raised their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Four 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Institutional Investors Weigh In On Procore Technologies

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its position in shares of Procore Technologies by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after acquiring an additional 1,425,967 shares in the last quarter. Meritage Group LP raised its stake in Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after purchasing an additional 1,098,019 shares during the period. Janus Henderson Group PLC lifted its holdings in Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after purchasing an additional 1,297,151 shares in the last quarter. Dragoneer Investment Group LLC boosted its stake in Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after purchasing an additional 1,609,607 shares during the period. Finally, Holocene Advisors LP grew its holdings in Procore Technologies by 1.1% during the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock valued at $115,623,000 after buying an additional 21,234 shares in the last quarter. Hedge funds and other 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.