Procore Technologies (NYSE:PCOR) Director Connor Kevin O Sells 5,775 Shares

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,775 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $42.92, for a total transaction of $247,863.00. Following the sale, the director directly owned 979,439 shares of the company’s stock, valued at $42,037,521.88. This represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Down 4.0%

Procore Technologies stock opened at $40.14 on Thursday. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of -78.70 and a beta of 0.73. Procore Technologies, Inc. has a 52-week low of $40.04 and a 52-week high of $82.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50 day moving average price of $50.01 and a two-hundred day moving average price of $58.68.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.The firm had revenue of $359.28 million for the quarter, compared to analyst estimates of $352.82 million. During the same quarter last year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities analysts predict that Procore Technologies, Inc. will post 0.06 EPS for the current year.

Institutional Trading of Procore Technologies

Several large investors have recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its stake in Procore Technologies by 7,100.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock worth $25,000 after buying an additional 426 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Procore Technologies in the third quarter valued at approximately $34,000. Jones Financial Companies Lllp increased its holdings in shares of Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 199 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies during the fourth quarter valued at approximately $41,000. Finally, Allworth Financial LP raised its position in shares of Procore Technologies by 48.2% during the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after purchasing an additional 204 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCOR has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price objective on Procore Technologies from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. TD Cowen decreased their target price on Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Wall Street Zen cut Procore Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research upgraded Procore Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. Finally, Piper Sandler cut their price target on Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and an average price target of $71.33.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.