Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells 6,500 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Kathryn Bueker sold 6,500 shares of Procore Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $78.01, for a total value of $507,065.00. Following the transaction, the director now owns 23,932 shares in the company, valued at $1,866,935.32. This represents a 21.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Procore Technologies Stock Performance

PCOR traded up $1.17 on Wednesday, hitting $81.43. 2,170,323 shares of the stock traded hands, compared to its average volume of 1,610,964. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $83.35. The firm has a market capitalization of $12.11 billion, a PE ratio of -162.92 and a beta of 0.71. The business has a fifty day moving average price of $65.09 and a two-hundred day moving average price of $64.09. 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 released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. On average, research analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler lifted their price objective on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Macquarie reissued a “neutral” rating and set a $70.00 price objective on shares of Procore Technologies in a research report on Tuesday, July 30th. JMP Securities reduced their price target on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a research report on Thursday, October 31st. TD Cowen boosted their price target on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, KeyCorp boosted their price target on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.25.

Institutional Investors Weigh In On Procore Technologies

Large investors have recently modified their holdings of the stock. Park Avenue Securities LLC boosted its holdings in shares of Procore Technologies by 16.9% in the 2nd quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock worth $580,000 after acquiring an additional 1,266 shares in the last quarter. M&G Plc boosted its holdings in shares of Procore Technologies by 12.4% in the 2nd quarter. M&G Plc now owns 120,626 shares of the company’s stock worth $7,961,000 after acquiring an additional 13,334 shares in the last quarter. Burney Co. acquired a new position in shares of Procore Technologies in the 1st quarter worth approximately $1,371,000. SG Americas Securities LLC boosted its holdings in shares of Procore Technologies by 118.0% in the 2nd quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock worth $1,158,000 after acquiring an additional 9,454 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Procore Technologies by 39.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock worth $59,635,000 after acquiring an additional 272,030 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

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.