Procore Technologies (NYSE:PCOR) Chairman Craig Jr. Courtemanche Sells 56,122 Shares

Procore Technologies, Inc. (NYSE:PCOR) Chairman Craig Jr. Courtemanche sold 56,122 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $51.06, for a total transaction of $2,865,589.32. Following the transaction, the chairman directly owned 927,580 shares in the company, valued at approximately $47,362,234.80. This represents a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Price Performance

PCOR stock opened at $46.11 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.12 and a current ratio of 1.12. Procore Technologies, Inc. has a 52 week low of $45.54 and a 52 week high of $82.32. The firm’s fifty day moving average is $55.34 and its 200 day moving average is $63.50. The firm has a market cap of $6.96 billion, a P/E ratio of -90.41 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last released its earnings results on Tuesday, May 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.24%. The business had revenue of $359.28 million for the quarter, compared to the consensus estimate of $352.82 million. During the same period in the prior year, the business posted $0.23 EPS. Procore Technologies’s revenue for the quarter was up 15.7% on a year-over-year basis. Research analysts predict that Procore Technologies, Inc. will post 0.06 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PCOR shares. BTIG Research reissued a “buy” rating and issued a $66.00 price target on shares of Procore Technologies in a report on Wednesday, May 6th. Piper Sandler cut their price target on shares of Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. The Goldman Sachs Group cut their price target on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Barclays cut their price target on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Finally, Canaccord Genuity Group cut their price target on shares of Procore Technologies from $90.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.56.

Institutional Investors Weigh In On Procore Technologies

Hedge funds have recently bought and sold shares of the business. SJS Investment Consulting Inc. raised its holdings in Procore Technologies by 7,100.0% in the first 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. Global Retirement Partners LLC raised its holdings in Procore Technologies by 465.2% in the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after buying an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Procore Technologies in the third quarter worth about $34,000. Jones Financial Companies Lllp raised its holdings in Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after buying an additional 199 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Procore Technologies in the fourth quarter worth about $41,000. Institutional investors own 81.10% of the company’s stock.

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.