Connor Kevin J. O Sells 3,846 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 3,846 shares of Procore Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total value of $206,337.90. Following the completion of the sale, the director now directly owns 1,444,313 shares in the company, valued at approximately $77,487,392.45. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Procore Technologies Price Performance

Shares of Procore Technologies stock traded down $0.98 during trading on Friday, hitting $53.30. 1,301,768 shares of the company were exchanged, compared to its average volume of 1,491,348. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of -55.52 and a beta of 0.75. The firm has a 50 day moving average price of $65.20 and a 200 day moving average price of $70.83.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.14. The company had revenue of $284.30 million during the quarter, compared to the consensus estimate of $275.26 million. Procore Technologies had a negative return on equity of 4.21% and a negative net margin of 8.54%. Procore Technologies’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.28) EPS. On average, equities analysts expect that Procore Technologies, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PCOR. TD Cowen began coverage on Procore Technologies in a research note on Wednesday, June 12th. They set a “buy” rating and a $85.00 price target on the stock. Barclays lowered Procore Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $78.00 to $54.00 in a research note on Friday, August 2nd. The Goldman Sachs Group decreased their price target on Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. KeyCorp decreased their price target on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Piper Sandler decreased their price target on Procore Technologies from $74.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.31.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Procore Technologies in the 4th quarter valued at $68,005,000. Artisan Partners Limited Partnership increased its holdings in shares of Procore Technologies by 81.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 652,985 shares of the company’s stock worth $45,200,000 after buying an additional 293,613 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Procore Technologies by 29.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 75,840 shares of the company’s stock worth $6,232,000 after buying an additional 17,119 shares during the last quarter. M&G Plc acquired a new stake in shares of Procore Technologies during the 1st quarter worth $8,798,000. Finally, Eventide Asset Management LLC acquired a new stake in shares of Procore Technologies during the 4th quarter worth $3,302,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.