Procore Technologies, Inc. (NYSE:PCOR) Director Sells $318,294.96 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total transaction of $318,294.96. Following the transaction, the director now owns 1,355,720 shares in the company, valued at approximately $84,149,540.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Procore Technologies Stock Up 2.4 %

Shares of Procore Technologies stock traded up $1.50 during trading on Thursday, hitting $63.12. 1,124,674 shares of the company’s stock were exchanged, compared to its average volume of 1,440,251. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $59.43 and a 200-day simple moving average of $64.39. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14. The company had revenue of $284.30 million for the quarter, compared to analyst estimates of $275.26 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. The firm’s revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.28) earnings per share. As a group, equities research analysts forecast that Procore Technologies, Inc. will post -0.28 earnings per share for the current year.

Institutional Trading of Procore Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanderbilt University acquired a new stake in Procore Technologies during the third quarter valued at $2,924,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Procore Technologies by 120.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,279 shares of the company’s stock valued at $511,000 after purchasing an additional 4,531 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in shares of Procore Technologies in the third quarter valued at about $5,999,000. Assenagon Asset Management S.A. acquired a new stake in shares of Procore Technologies in the third quarter valued at about $88,572,000. Finally, Tanager Wealth Management LLP grew its position in shares of Procore Technologies by 1.3% in the third quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock valued at $787,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PCOR shares. Robert W. Baird started coverage on shares of Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price for the company. BMO Capital Markets decreased their target price on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Scotiabank decreased their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. DA Davidson reissued a “neutral” rating and set a $60.00 target price on shares of Procore Technologies in a research report on Wednesday, October 2nd. Finally, Macquarie reissued a “neutral” rating and set a $70.00 target price on shares of Procore Technologies in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and an average price target of $70.13.

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.