Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Insider Sells 6,937 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 6,937 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $83.60, for a total value of $579,933.20. Following the sale, the insider now owns 72,110 shares in the company, valued at $6,028,396. The trade was a 8.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Procore Technologies Trading Down 0.9 %

NYSE:PCOR traded down $0.78 during mid-day trading on Friday, hitting $82.28. The company had a trading volume of 1,628,367 shares, compared to its average volume of 1,377,505. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The business’s fifty day moving average is $78.09 and its two-hundred day moving average is $69.37. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $12.23 billion, a P/E ratio of -114.27 and a beta of 0.84.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. As a group, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on PCOR shares. UBS Group increased their target price on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Mizuho increased their target price on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Piper Sandler increased their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. The Goldman Sachs Group increased their target price on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, TD Cowen increased their target price on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and an average target price of $89.94.

Hedge Funds Weigh In On Procore Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Cache Advisors LLC acquired a new stake in shares of Procore Technologies during the fourth quarter worth about $2,909,000. JT Stratford LLC acquired a new stake in shares of Procore Technologies during the fourth quarter worth about $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Procore Technologies by 15.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company’s stock worth $22,347,000 after purchasing an additional 39,935 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Procore Technologies during the fourth quarter worth about $14,855,000. Finally, Woodline Partners LP raised its position in shares of Procore Technologies by 45.8% during the fourth quarter. Woodline Partners LP now owns 691,980 shares of the company’s stock worth $51,850,000 after purchasing an additional 217,351 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.