Procore Technologies (NYSE:PCOR) Insider Sells $249,789.05 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 3,943 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $63.35, for a total value of $249,789.05. Following the sale, the insider directly owned 86,931 shares in the company, valued at $5,507,078.85. This trade represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Down 0.2%

Shares of NYSE PCOR opened at $60.51 on Thursday. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $82.32. The company has a market cap of $9.20 billion, a price-to-earnings ratio of -232.73 and a beta of 0.70. The business has a fifty day simple moving average of $49.35 and a 200-day simple moving average of $51.34.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The firm had revenue of $375.21 million for the quarter, compared to analysts’ expectations of $365.82 million. During the same quarter last year, the business posted $0.35 EPS. Procore Technologies’s revenue was up 15.8% on a year-over-year basis. As a group, sell-side analysts expect that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently modified their holdings of PCOR. SJS Investment Consulting Inc. increased its stake in shares of 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 acquiring an additional 426 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Procore Technologies in the third quarter valued at about $34,000. Twin Tree Management LP purchased a new position in Procore Technologies in the second quarter valued at about $40,000. Allworth Financial LP increased its position in Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after purchasing an additional 204 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Procore Technologies during the 2nd quarter worth about $52,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PCOR shares. Jefferies Financial Group lowered their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Guggenheim began coverage on Procore Technologies in a research report on Thursday, July 23rd. They issued a “buy” rating and a $68.00 target price for the company. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target on the stock in a report on Wednesday, April 29th. Piper Sandler dropped their price target on Procore Technologies from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Procore Technologies in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.44.

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.