Procore Technologies, Inc. (NYSE:PCOR) Director Sells $299,885.44 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $58.48, for a total transaction of $299,885.44. Following the completion of the sale, the director now directly owns 1,360,848 shares in the company, valued at $79,582,391.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Procore Technologies Price Performance

Shares of PCOR opened at $59.49 on Friday. The firm has a market capitalization of $8.79 billion, a PE ratio of -61.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.55 and a quick ratio of 1.55. The company’s 50-day moving average is $60.62 and its 200-day moving average is $67.57. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.14. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. The firm had revenue of $284.30 million during the quarter, compared to the consensus estimate of $275.26 million. During the same period last year, the business posted ($0.28) earnings per share. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. Equities analysts forecast that Procore Technologies, Inc. will post -0.28 EPS for the current year.

Institutional Trading of Procore Technologies

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the period. Rothschild Investment LLC bought a new position in Procore Technologies during the second quarter worth about $51,000. Quarry LP raised its stake in Procore Technologies by 984.6% in the 2nd quarter. Quarry LP now owns 1,128 shares of the company’s stock worth $75,000 after purchasing an additional 1,024 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Procore Technologies by 26.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after purchasing an additional 260 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased 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. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCOR has been the subject of several recent research reports. BMO Capital Markets reduced their price objective on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Barclays downgraded shares of Procore Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $78.00 to $54.00 in a report on Friday, August 2nd. KeyCorp reduced their target price on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their price objective on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.31.

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.