Procore Technologies, Inc. (NYSE:PCOR) Director Sells $361,370.16 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $70.47, for a total value of $361,370.16. Following the completion of the transaction, the director now owns 1,335,208 shares of the company’s stock, valued at approximately $94,092,107.76. This represents a 0.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Procore Technologies Trading Down 3.4 %

NYSE PCOR opened at $69.15 on Friday. The firm has a market cap of $10.28 billion, a PE ratio of -138.30 and a beta of 0.71. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $83.35. The stock has a 50-day moving average of $62.53 and a 200-day moving average of $63.85. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share 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 firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Procore Technologies from $64.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price target on shares of Procore Technologies from $63.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price objective on Procore Technologies from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Robert W. Baird initiated coverage on Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price for the company. Finally, BMO Capital Markets lowered their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.94.

Hedge Funds Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PCOR. Dragoneer Investment Group LLC increased its holdings 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 purchasing an additional 1,609,607 shares during the period. Wasatch Advisors LP increased 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 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 approximately $88,572,000. XN LP lifted 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 acquiring an additional 1,411,812 shares during the period. Finally, PointState Capital LP bought a new stake in Procore Technologies in the third quarter valued at $81,306,000. 81.10% of the stock is 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.