Insider Selling: Procore Technologies (NYSE:PCOR) Director Sells $242,298.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,769 shares of Procore Technologies stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $42.00, for a total transaction of $242,298.00. Following the completion of the transaction, the director directly owned 973,670 shares in the company, valued at $40,894,140. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Performance

Shares of PCOR opened at $39.99 on Friday. Procore Technologies, Inc. has a 12 month low of $38.71 and a 12 month high of $82.32. The stock has a fifty day moving average price of $49.40 and a 200-day moving average price of $58.31. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.02. The firm has a market cap of $6.03 billion, a PE ratio of -78.41 and a beta of 0.73.

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 analysts’ consensus estimates 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 business had revenue of $359.28 million during the quarter, compared to analyst estimates of $352.82 million. During the same period in the previous year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts predict that Procore Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price target on Procore Technologies from $74.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Piper Sandler decreased their price objective on shares of Procore Technologies from $79.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Citizens Jmp raised shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price on the stock in a research report on Wednesday, April 29th. Finally, TD Cowen dropped their target price on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.33.

Hedge Funds Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of PCOR. SJS Investment Consulting Inc. raised its position 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 last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Procore Technologies during the 3rd quarter valued at approximately $34,000. Jones Financial Companies Lllp boosted its holdings in shares of Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 199 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Procore Technologies in the 4th quarter valued at $41,000. Finally, Allworth Financial LP increased its stake in shares of Procore Technologies by 48.2% in the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after acquiring an additional 204 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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. 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.