Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Insider Sells 7,914 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Steven Scott Davis sold 7,914 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $564,743.04. Following the sale, the insider now directly owns 184,223 shares of the company’s stock, valued at approximately $13,146,153.28. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, October 31st, Steven Scott Davis sold 9,671 shares of Procore Technologies stock. The shares were sold at an average price of $65.00, for a total transaction of $628,615.00.

Procore Technologies Stock Up 1.9 %

Shares of NYSE:PCOR opened at $76.68 on Friday. The firm has a market capitalization of $11.40 billion, a PE ratio of -153.36 and a beta of 0.71. The business has a 50 day simple moving average of $64.19 and a two-hundred day simple moving average of $63.94. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. On average, equities analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. KeyCorp lifted their target price on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen upped their price objective on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group increased their target price on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday. Canaccord Genuity Group upped their price target on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group lifted their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Dragoneer Investment Group LLC boosted its position in Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after buying an additional 1,609,607 shares during the period. Wasatch Advisors LP raised its stake in shares of Procore Technologies by 27,239.5% during the third quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after acquiring an additional 1,575,534 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Procore Technologies in the third quarter valued at approximately $88,572,000. XN LP grew its stake in Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after purchasing an additional 1,411,812 shares in the last quarter. Finally, PointState Capital LP purchased a new position in Procore Technologies during the 3rd quarter worth $81,306,000. 81.10% of the stock is currently owned by 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.