Procore Technologies, Inc. (NYSE:PCOR) Director Sells $345,678.48 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.41, for a total value of $345,678.48. Following the transaction, the director now directly owns 1,215,984 shares in the company, valued at $81,969,481.44. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $68.28 on Monday. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. 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 company has a market capitalization of $10.24 billion, a price-to-earnings ratio of -94.83 and a beta of 0.85. The business has a 50 day simple moving average of $77.06 and a 200-day simple moving average of $71.23.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Procore Technologies by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock worth $891,692,000 after buying an additional 838,925 shares during the last quarter. Capital World Investors grew its stake in Procore Technologies by 453.6% during the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock worth $233,704,000 after buying an additional 2,555,612 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after buying an additional 1,425,967 shares during the last quarter. Meritage Group LP grew 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 worth $169,453,000 after buying an additional 1,098,019 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Procore Technologies by 29,376.1% during the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock worth $200,810,000 after acquiring an additional 2,670,872 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCOR has been the topic of several recent research reports. JMP Securities boosted their price target on Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 18th. Barclays boosted their price target on Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. BMO Capital Markets boosted their price target on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $100.00 in a research report on Monday, January 6th. Finally, DA Davidson lifted their price objective on Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

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.