Procore Technologies, Inc. (NYSE:PCOR) Director Sells $2,730,890.76 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 33,332 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total value of $2,730,890.76. Following the transaction, the director now owns 1,282,648 shares of the company’s stock, valued at approximately $105,087,350.64. This represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Procore Technologies Trading Down 3.4 %

NYSE:PCOR opened at $78.82 on Friday. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of -157.64 and a beta of 0.82. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average price is $70.80 and its 200-day moving average price is $65.31. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $86.67.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on PCOR. TD Cowen upped their price objective on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. KeyCorp increased their price target on shares of Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Robert W. Baird lifted their price objective on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday. DA Davidson upped their target price on Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group raised their target price on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.71.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC lifted its stake in Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after acquiring an additional 1,609,607 shares during the period. Wasatch Advisors LP lifted its position in 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 purchasing an additional 1,575,534 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Procore Technologies in the third quarter worth approximately $88,572,000. XN LP boosted its holdings 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 during the last quarter. Finally, PointState Capital LP purchased a new stake in Procore Technologies during the 3rd quarter valued at $81,306,000. 81.10% of the stock is currently owned by institutional investors.

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.