Procore Technologies (NYSE:PCOR) Director Connor Kevin O Sells 7,692 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 7,692 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $62.03, for a total value of $477,134.76. Following the completion of the transaction, the director owned 931,362 shares of the company’s stock, valued at $57,772,384.86. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Up 1.8%

PCOR stock opened at $60.57 on Friday. Procore Technologies, Inc. has a 52-week low of $38.03 and a 52-week high of $82.32. The stock’s fifty day simple moving average is $52.08 and its 200-day simple moving average is $51.82. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of -232.96 and a beta of 0.74.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $375.21 million during the quarter, compared to the consensus estimate of $365.82 million. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, analysts anticipate that Procore Technologies, Inc. will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PCOR. BTIG Research reaffirmed a “buy” rating and set 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 on the stock in a research report on Tuesday, July 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Procore Technologies in a report on Monday, July 6th. Barclays boosted their target price on shares of Procore Technologies from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Finally, UBS Group increased their price target on shares of Procore Technologies from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.44.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PCOR. Brighton Jones LLC purchased a new stake in Procore Technologies during the fourth quarter worth approximately $511,000. Goldman Sachs Group Inc. raised its stake in shares of Procore Technologies by 5.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company’s stock valued at $48,392,000 after acquiring an additional 36,426 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Procore Technologies by 17.6% in 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 valued at $23,156,000 after acquiring an additional 52,507 shares during the period. Prudential Financial Inc. raised 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 valued at $471,000 after acquiring an additional 2,480 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Procore Technologies by 3.8% during the 2nd 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.

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.