Connor Kevin O Sells 5,769 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,769 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $42.00, for a total transaction of $242,298.00. Following the sale, the director directly owned 973,670 shares of the company’s stock, valued at approximately $40,894,140. The trade was a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Performance

NYSE:PCOR opened at $39.99 on Friday. The stock has a market capitalization of $6.03 billion, a P/E ratio of -78.41 and a beta of 0.73. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 1 year low of $38.71 and a 1 year high of $82.32. The firm has a 50 day moving average of $49.69 and a 200-day moving average of $58.44.

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

Institutional Trading of Procore Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. lifted its position in Procore Technologies by 7,100.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock valued at $25,000 after purchasing an additional 426 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Procore Technologies during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp grew its position in shares of Procore Technologies by 70.8% during the 3rd 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 period. V Square Quantitative Management LLC acquired a new position in Procore Technologies in the fourth quarter valued at approximately $41,000. Finally, Allworth Financial LP boosted its stake in Procore Technologies by 48.2% in the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after acquiring an additional 204 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PCOR has been the topic of several research analyst reports. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price on the stock in a report on Wednesday, April 29th. Zacks Research raised Procore Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. BTIG Research reiterated a “buy” rating and set a $66.00 price target on shares of Procore Technologies in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, UBS Group lowered their price objective on shares of Procore Technologies from $74.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and an average target price of $71.33.

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.