Elisa Steele Sells 1,500 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Elisa Steele sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $63.00, for a total value of $94,500.00. Following the completion of the transaction, the director owned 58,371 shares in the company, valued at $3,677,373. The trade was a 2.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Up 0.0%

Shares of PCOR opened at $63.30 on Friday. Procore Technologies, Inc. has a 52-week low of $38.03 and a 52-week high of $82.32. The firm’s fifty day moving average is $48.18 and its two-hundred day moving average is $51.18. The stock has a market cap of $9.62 billion, a PE ratio of -243.46 and a beta of 0.70.

Procore Technologies (NYSE:PCOR) last issued its earnings results 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 analysts’ expectations of $365.82 million. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. As a group, research analysts anticipate that Procore Technologies, Inc. will post 0.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PCOR shares. BMO Capital Markets upped their price target on Procore Technologies from $56.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. BTIG Research reiterated a “buy” rating and set a $66.00 price objective on shares of Procore Technologies in a research report on Friday, July 24th. Piper Sandler lowered their price objective on Procore Technologies from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Barclays upped their target price on 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 raised their target price on Procore Technologies from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One research 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 issued a Sell rating to the stock. According to MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $70.44.

Institutional Trading of Procore Technologies

Several institutional investors have recently made changes to their positions in the company. Blue Owl Capital Holdings LP acquired a new position in shares of Procore Technologies in the 4th quarter valued at $6,857,000. Stephens Investment Management Group LLC increased its position in shares of Procore Technologies by 23.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 543,159 shares of the company’s stock worth $30,960,000 after purchasing an additional 102,574 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Procore Technologies by 105.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 45,802 shares of the company’s stock worth $3,332,000 after purchasing an additional 23,555 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Procore Technologies in the 1st quarter valued at about $3,181,000. Finally, Deutsche Bank AG purchased a new stake in Procore Technologies in the 2nd quarter valued at about $114,444,000. Hedge funds and other 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.