Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche Sells 22,665 Shares

Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the completion of the transaction, the chief executive officer now directly owns 770,458 shares in the company, valued at approximately $54,979,882.88. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $76.67 on Friday. The company’s fifty day simple moving average is $64.19 and its two-hundred day simple moving average is $63.98. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $83.35. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. As a group, research analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PCOR. Vanguard Group Inc. raised its position in Procore Technologies by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock worth $764,111,000 after purchasing an additional 94,190 shares during the period. XN LP grew its stake in shares of Procore Technologies by 101.1% during the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after buying an additional 1,411,812 shares during the last quarter. Meritage Group LP grew its stake in shares of Procore Technologies by 66.6% during the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after buying an additional 1,098,019 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Procore Technologies by 128.7% in the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after buying an additional 1,297,151 shares during the period. Finally, Dragoneer Investment Group LLC lifted its stake in shares of Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after acquiring an additional 1,609,607 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PCOR shares. KeyCorp upped their target price on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday. Barclays raised their target price on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday. The Goldman Sachs Group boosted their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird assumed coverage on shares of Procore Technologies in a report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 price objective for the company. Finally, Piper Sandler upped their target price on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.25.

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.