Procore Technologies (NYSE:PCOR) Director Sells $494,672.52 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 7,692 shares of Procore Technologies stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $64.31, for a total transaction of $494,672.52. Following the completion of the transaction, the director owned 1,035,212 shares of the company’s stock, valued at $66,574,483.72. The trade was a 0.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Procore Technologies Trading Up 1.0%

Shares of NYSE PCOR traded up $0.66 during midday trading on Friday, hitting $65.67. The company’s stock had a trading volume of 1,521,522 shares, compared to its average volume of 1,164,992. The stock has a fifty day moving average price of $73.11 and a 200 day moving average price of $71.81. Procore Technologies, Inc. has a one year low of $53.71 and a one year high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The business had revenue of $338.85 million for the quarter, compared to analysts’ expectations of $328.13 million. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. On average, equities analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC purchased a new stake in Procore Technologies in the fourth quarter valued at approximately $511,000. Goldman Sachs Group Inc. increased its holdings 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 worth $48,392,000 after buying an additional 36,426 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 valued at $23,156,000 after buying an additional 52,507 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Procore Technologies by 13.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,759 shares of the company’s stock valued at $640,000 after buying an additional 1,057 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Procore Technologies by 129.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 75,710 shares of the company’s stock worth $5,180,000 after acquiring an additional 42,769 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Berenberg Bank assumed coverage on Procore Technologies in a report on Friday, October 3rd. They set a “buy” rating and a $84.00 price objective on the stock. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Canaccord Genuity Group increased their price target on shares of Procore Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Barclays raised shares of Procore Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $82.00 to $90.00 in a research note on Monday, January 5th. Finally, BTIG Research reaffirmed a “buy” rating and set a $88.00 target price on shares of Procore Technologies in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.11.

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.