Connor Kevin O Sells 5,769 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,769 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $50.52, for a total value of $291,449.88. Following the transaction, the director owned 1,021,751 shares of the company’s stock, valued at $51,618,860.52. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $55.03 on Friday. The firm has a 50 day simple moving average of $62.68 and a 200 day simple moving average of $68.90. Procore Technologies, Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $82.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.33. The firm has a market cap of $8.26 billion, a P/E ratio of -82.13 and a beta of 0.89.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The company had revenue of $349.11 million for the quarter, compared to the consensus estimate of $340.80 million. During the same period in the prior year, the company posted $0.01 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. Sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

A number of large investors have recently bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in shares of Procore Technologies by 465.2% in the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after purchasing an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Procore Technologies in the third quarter valued at $34,000. Jones Financial Companies Lllp grew its position in Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after purchasing an additional 199 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Procore Technologies in the 4th quarter valued at $41,000. Finally, Allworth Financial LP lifted its position in Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCOR. The Goldman Sachs Group reduced their price target on shares of Procore Technologies from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. Wall Street Zen lowered Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. BMO Capital Markets decreased their target price on Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Robert W. Baird raised their price target on Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, UBS Group cut their price objective on Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.95.

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.