Procore Technologies, Inc. (NYSE:PCOR) Insider Sells $132,260.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $66.13, for a total value of $132,260.00. Following the completion of the sale, the insider now directly owns 108,705 shares in the company, valued at approximately $7,188,661.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Procore Technologies Price Performance

Shares of PCOR traded up $0.72 during mid-day trading on Wednesday, reaching $68.70. 1,020,832 shares of the company’s stock were exchanged, compared to its average volume of 1,322,178. The company has a market cap of $10.05 billion, a price-to-earnings ratio of -71.56 and a beta of 0.75. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35. The company has a 50-day simple moving average of $67.21 and a two-hundred day simple moving average of $71.46.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates 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, sell-side analysts predict that Procore Technologies, Inc. will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

Institutional investors have recently added to or reduced their stakes in the company. Ellsworth Advisors LLC raised its holdings in Procore Technologies by 3.0% in the 4th quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock valued at $408,000 after acquiring an additional 170 shares during the period. Advisors Asset Management Inc. boosted its position in Procore Technologies by 26.2% in the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after buying an additional 260 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Procore Technologies by 3.8% during the first quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock valued at $589,000 after acquiring an additional 263 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of 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 valued at $104,000 after acquiring an additional 297 shares during the last quarter. 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 buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PCOR. BMO Capital Markets restated an “outperform” rating and issued a $85.00 target price on shares of Procore Technologies in a research note on Tuesday, June 11th. Macquarie assumed coverage on Procore Technologies in a research report on Wednesday, June 5th. They issued a “neutral” rating and a $70.00 target price on the stock. Barclays cut their target price on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on Procore Technologies from $86.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Canaccord Genuity Group decreased their price objective on Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and a consensus target price of $81.19.

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.