Lawrence Joseph Stack Sells 12,000 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

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

Procore Technologies Stock Performance

Shares of Procore Technologies stock traded down $0.78 during trading hours on Friday, reaching $82.28. The company’s stock had a trading volume of 1,628,367 shares, compared to its average volume of 1,377,505. The company’s 50 day simple moving average is $78.09 and its 200 day simple moving average is $69.37. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The stock has a market cap of $12.23 billion, a P/E ratio of -114.27 and a beta of 0.84.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PCOR. Chicago Partners Investment Group LLC increased its holdings in shares of Procore Technologies by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after acquiring an additional 129 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after acquiring an additional 143 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 147 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after acquiring an additional 162 shares during the period. Finally, Tanager Wealth Management LLP increased its holdings in shares of Procore Technologies by 1.3% in the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock worth $787,000 after acquiring an additional 168 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. JMP Securities boosted their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research report on Tuesday. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $100.00 in a research report on Monday, January 6th. Scotiabank boosted their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research report on Friday, November 22nd. Finally, Piper Sandler upped their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.94.

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.