Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche Sells 22,483 Shares

Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche sold 22,483 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total transaction of $1,577,632.11. Following the sale, the chief executive officer now owns 866,718 shares in the company, valued at $60,817,602.06. The sale was disclosed in a filing with the SEC, which is available at this link.

Procore Technologies Stock Up 0.8 %

NYSE:PCOR traded up $0.56 during midday trading on Friday, reaching $68.73. 773,781 shares of the stock traded hands, compared to its average volume of 1,258,902. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $83.35. The business has a 50-day moving average of $73.70 and a two-hundred day moving average of $69.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a market capitalization of $10.06 billion, a PE ratio of -71.04 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, May 1st. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The company had revenue of $269.43 million during the quarter, compared to analysts’ expectations of $263.13 million. On average, equities analysts forecast that Procore Technologies, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PCOR has been the topic of several analyst reports. Mizuho cut their price target on shares of Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Canaccord Genuity Group cut their price target on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. 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. DA Davidson restated a “buy” rating and issued a $95.00 target price on shares of Procore Technologies in a research note on Thursday, March 14th. Finally, JMP Securities upped their target price on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and an average target price of $81.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Procore Technologies by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock worth $764,111,000 after buying an additional 94,190 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Procore Technologies by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 4,744,726 shares of the company’s stock worth $309,926,000 after acquiring an additional 114,649 shares during the period. Cadian Capital Management LP increased its stake in shares of Procore Technologies by 22.9% in the fourth quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock worth $257,384,000 after acquiring an additional 692,218 shares during the period. Invesco Ltd. increased its stake in shares of Procore Technologies by 32.8% in the third quarter. Invesco Ltd. now owns 2,398,257 shares of the company’s stock worth $156,654,000 after acquiring an additional 592,318 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of Procore Technologies by 4,290.2% in the fourth quarter. Cerity Partners LLC now owns 1,334,194 shares of the company’s stock worth $92,353,000 after acquiring an additional 1,303,804 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.