Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells $491,134.20 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $76.62, for a total transaction of $491,134.20. Following the completion of the transaction, the director now owns 1,250,598 shares of the company’s stock, valued at $95,820,818.76. The trade was a 0.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $77.03 on Friday. The company’s fifty day moving average price is $77.10 and its 200-day moving average price is $67.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of -154.06 and a beta of 0.83. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $86.67.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, October 30th. The company reported ($0.11) 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 business had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. On average, equities research analysts anticipate that Procore Technologies, Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors have recently modified their holdings of PCOR. Dragoneer Investment Group LLC grew its holdings in shares of 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 purchasing an additional 1,609,607 shares during the last quarter. Wasatch Advisors LP boosted 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 buying an additional 1,575,534 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Procore Technologies during the third quarter valued at about $88,572,000. XN LP increased its holdings in shares of 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 buying an additional 1,411,812 shares during the period. Finally, PointState Capital LP bought a new stake in shares of Procore Technologies in the 3rd quarter valued at about $81,306,000. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PCOR shares. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th. JMP Securities increased their price objective on Procore Technologies from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Monday, December 2nd. Robert W. Baird lifted their target price on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, DA Davidson increased their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.00.

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.