Procore Technologies, Inc. (NYSE:PCOR) Insider Sells $550,904.67 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Steven Scott Davis sold 7,851 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total value of $550,904.67. Following the completion of the transaction, the insider now owns 219,652 shares of the company’s stock, valued at $15,412,980.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Steven Scott Davis also recently made the following trade(s):

• On Wednesday, March 13th, Steven Scott Davis sold 57,666 shares of Procore Technologies stock. The stock was sold at an average price of $79.11, for a total value of $4,561,957.26.

Procore Technologies Stock Performance

NYSE:PCOR opened at $68.75 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The firm has a 50-day moving average of $73.51 and a two-hundred day moving average of $70.01. The stock has a market cap of $10.06 billion, a P/E ratio of -71.61 and a beta of 0.78. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The company had revenue of $269.43 million during the quarter, compared to analysts’ expectations of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. On average, research analysts expect that Procore Technologies, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JMP Securities upped their price objective on Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a report on Friday, February 16th. KeyCorp upped their price objective on Procore Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. The Goldman Sachs Group upped their price objective on Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. JPMorgan Chase & Co. upped their price objective on Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, DA Davidson reiterated a “buy” rating and issued a $95.00 price target on shares of Procore Technologies in a report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.79.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCOR. International Assets Investment Management LLC lifted its position in shares of Procore Technologies by 6,823.1% during the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after purchasing an additional 887 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Procore Technologies during the fourth quarter worth about $62,000. Advisors Asset Management Inc. raised its stake in Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after acquiring an additional 260 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after acquiring an additional 297 shares during the period. Finally, Covestor Ltd raised its stake in Procore Technologies by 29.3% during the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock worth $109,000 after acquiring an additional 300 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.