Procore Technologies (NYSE:PCOR) Insider Benjamin Singer Sells 3,943 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 3,943 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $63.35, for a total transaction of $249,789.05. Following the completion of the transaction, the insider owned 86,931 shares in the company, valued at $5,507,078.85. This trade represents a 4.34% decrease in their position. The sale 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 2.2%

Shares of NYSE PCOR opened at $62.10 on Tuesday. The company has a market capitalization of $9.44 billion, a PE ratio of -238.87 and a beta of 0.70. The firm has a fifty day simple moving average of $48.57 and a 200 day simple moving average of $51.23. Procore Technologies, Inc. has a twelve month low of $38.03 and a twelve month high of $82.32.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The firm had revenue of $375.21 million during the quarter, compared to analyst estimates of $365.82 million. During the same period last year, the company posted $0.35 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities analysts expect that Procore Technologies, Inc. will post 0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCOR has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Procore Technologies from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. BTIG Research reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Procore Technologies in a research note on Friday, July 24th. TD Cowen decreased their target price on shares of Procore Technologies from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Citigroup reaffirmed a “market outperform” rating on shares of Procore Technologies in a research report on Tuesday, July 21st. Finally, Wall Street Zen lowered Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.44.

Institutional Trading of Procore Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in Procore Technologies in the 4th quarter worth about $511,000. Goldman Sachs Group Inc. lifted its position in shares of Procore Technologies by 5.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company’s stock worth $48,392,000 after buying an additional 36,426 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Procore Technologies by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company’s stock worth $23,156,000 after buying an additional 52,507 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Procore Technologies by 56.8% in the 2nd quarter. Prudential Financial Inc. now owns 6,850 shares of the company’s stock worth $471,000 after buying an additional 2,480 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Procore Technologies by 3.8% in the second quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company’s stock valued at $500,000 after acquiring an additional 269 shares in the last quarter. 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. 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.