Procore Technologies (NYSE:PCOR) Director Elisa Steele Sells 3,337 Shares of Company Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Elisa Steele sold 3,337 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $69.10, for a total value of $230,586.70. Following the completion of the transaction, the director directly owned 55,034 shares of the company’s stock, valued at $3,802,849.40. This represents a 5.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Elisa Steele also recently made the following trade(s):

• On Wednesday, August 19th, Elisa Steele sold 1,500 shares of Procore Technologies stock. The shares were sold at an average price of $63.00, for a total value of $94,500.00.

Procore Technologies Price Performance

PCOR stock traded down $0.28 during midday trading on Friday, hitting $75.33. The stock had a trading volume of 4,049,430 shares, compared to its average volume of 3,008,882. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of -327.49 and a beta of 0.75. The business has a 50-day moving average of $57.53 and a two-hundred day moving average of $53.50. Procore Technologies, Inc. has a 52-week low of $38.03 and a 52-week high of $80.40.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $402.31 million during the quarter, compared to analyst estimates of $384.38 million. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. Research analysts predict that Procore Technologies, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PCOR. Jefferies Financial Group dropped their price target on Procore Technologies from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. TD Cowen raised their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Monday. Citigroup reiterated a “market outperform” rating on shares of Procore Technologies in a research note on Monday, October 26th. Weiss Ratings raised Procore Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 23rd. Finally, UBS Group increased their target price on Procore Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. Eighteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and an average target price of $80.35.

Trending Headlines about Procore Technologies

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Procore reported Q3 earnings of $0.51 per share, topping estimates of about $0.45–$0.46. Revenue rose 18.7% year over year to $402.3 million, also exceeding expectations. Shares climbed 12.4% following the earnings beat. Procore shares climb following earnings beat
• Positive Sentiment: Several firms raised their price targets and maintained or issued bullish ratings. Citizens JMP lifted its target to $91, while UBS raised its target to $95 and reiterated Buy; Loop Capital also upgraded the stock from Hold to Buy with a $93 target. These actions signal stronger analyst confidence after the results. Citizens JMP raises Procore price target
• Neutral Sentiment: A Procore director sold 7,692 shares under a pre-arranged Rule 10b5-1 trading plan. The sale was a small reduction in his holdings, which remained substantial after the transaction. Director share sale

Hedge Funds Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PCOR. Deutsche Bank AG purchased a new position in shares of Procore Technologies during the 2nd quarter worth $114,444,000. Bank of America Corp DE purchased a new stake in shares of Procore Technologies in the 2nd quarter worth $34,651,000. Whetstone Capital Advisors LLC bought a new position in Procore Technologies in the 2nd quarter worth $1,990,000. Hillsdale Investment Management Inc. bought a new position in Procore Technologies in the 1st quarter worth $3,181,000. Finally, Citizens Financial Group Inc. RI bought a new position in Procore Technologies in the 2nd quarter worth $964,000. 81.10% of the stock is owned by institutional investors.

About Procore Technologies

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company’s technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore’s products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.