Lawrence Joseph Stack Sells 2,500 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CRO Lawrence Joseph Stack sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $65.33, for a total value of $163,325.00. Following the sale, the executive now directly owns 208,288 shares of the company’s stock, valued at $13,607,455.04. This represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lawrence Joseph Stack also recently made the following trade(s):

• On Friday, May 9th, Lawrence Joseph Stack sold 1,000 shares of Procore Technologies stock. The shares were sold at an average price of $65.60, for a total value of $65,600.00.

Procore Technologies Stock Down 0.6%

NYSE:PCOR opened at $66.29 on Thursday. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9.89 billion, a P/E ratio of -77.09 and a beta of 0.90. The stock’s fifty day simple moving average is $65.34 and its 200-day simple moving average is $71.78.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative return on equity of 6.54% and a negative net margin of 10.73%. The business had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same period last year, the company earned $0.30 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Equities research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on PCOR. KeyCorp dropped their price target on Procore Technologies from $96.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Stifel Nicolaus lowered their target price on Procore Technologies from $93.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Arete started coverage on Procore Technologies in a research note on Monday. They issued a “buy” rating and a $91.00 target price for the company. Macquarie lowered their target price on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Barclays lifted their target price on Procore Technologies from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PCOR. Vanguard Group Inc. lifted its holdings in Procore Technologies by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock worth $891,692,000 after acquiring an additional 838,925 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Procore Technologies by 84.5% during the first quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company’s stock worth $215,195,000 after acquiring an additional 1,492,869 shares in the last quarter. Capital World Investors lifted its holdings in Procore Technologies by 453.6% during the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock worth $233,704,000 after acquiring an additional 2,555,612 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Procore Technologies by 3.1% during the first quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company’s stock worth $182,365,000 after acquiring an additional 82,311 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Procore Technologies by 14.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company’s stock worth $196,873,000 after acquiring an additional 322,367 shares in the last quarter. 81.10% of the stock is currently 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.