Benjamin C. Singer Sells 3,000 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 3,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.05, for a total transaction of $207,150.00. Following the completion of the sale, the insider now owns 122,321 shares in the company, valued at $8,446,265.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Procore Technologies Stock Performance

NYSE PCOR traded down $1.09 during trading on Friday, reaching $68.14. The company’s stock had a trading volume of 2,713,029 shares, compared to its average volume of 1,277,110. Procore Technologies, Inc. has a 12 month low of $48.11 and a 12 month high of $83.35. The firm has a 50 day moving average price of $76.35 and a 200 day moving average price of $68.92. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of -72.10 and a beta of 0.78. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. The business had revenue of $260.04 million for the quarter, compared to the consensus estimate of $248.20 million. Procore Technologies had a negative return on equity of 8.37% and a negative net margin of 13.64%. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on PCOR. KeyCorp lifted their target price on Procore Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. BMO Capital Markets lowered their target price on Procore Technologies from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday. Piper Sandler cut their price target on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday. JMP Securities increased their price objective on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research report on Friday, February 16th. Finally, The Goldman Sachs Group upped their target price on shares of Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $81.79.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PCOR. BluePath Capital Management LLC bought a new position in shares of Procore Technologies in the 3rd quarter valued at $36,000. International Assets Investment Management LLC increased its position in Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after acquiring an additional 887 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Procore Technologies during the fourth quarter valued at $62,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after purchasing an additional 297 shares during the period. Finally, TFO Wealth Partners LLC grew its stake in shares of 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 purchasing an additional 2,180 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

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.