Procore Technologies (NYSE:PCOR) Director Connor Kevin O Sells 9,615 Shares

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 9,615 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $54.48, for a total value of $523,825.20. Following the transaction, the director owned 1,012,136 shares in the company, valued at approximately $55,141,169.28. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Procore Technologies Stock Down 1.4%

Shares of PCOR stock traded down $0.78 on Friday, hitting $55.03. The stock had a trading volume of 2,149,100 shares, compared to its average volume of 3,470,308. The company has a quick ratio of 1.33, a current ratio of 1.32 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a one year low of $46.08 and a one year high of $82.32. The business has a 50 day moving average price of $62.68 and a 200 day moving average price of $68.86. The company has a market cap of $8.26 billion, a PE ratio of -82.13 and a beta of 0.89.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The business had revenue of $349.11 million during the quarter, compared to analyst estimates of $340.80 million. During the same quarter in the previous year, the business posted $0.01 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. UBS Group cut their target price on Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. KeyCorp decreased their price target on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Stifel Nicolaus cut their price objective on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Zacks Research cut shares of Procore Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.95.

Hedge Funds Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Procore Technologies by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 13,158,506 shares of the company’s stock worth $957,150,000 after purchasing an additional 804,920 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Procore Technologies by 493.9% during the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock worth $445,391,000 after buying an additional 5,079,534 shares during the period. Wasatch Advisors LP grew its holdings in shares of Procore Technologies by 6.8% during the third quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company’s stock valued at $362,560,000 after buying an additional 315,604 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Procore Technologies by 76.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock valued at $294,449,000 after buying an additional 1,750,998 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Procore Technologies by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 3,539,062 shares of the company’s stock valued at $257,431,000 after acquiring an additional 137,171 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. 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.