Insider Selling: Procore Technologies (NYSE:PCOR) Insider Sells 4,204 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 4,204 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $69.21, for a total value of $290,958.84. Following the sale, the insider directly owned 75,676 shares of the company’s stock, valued at $5,237,535.96. The trade was a 5.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Procore Technologies Stock Performance

Shares of NYSE:PCOR traded up $1.58 during trading on Friday, reaching $71.07. The stock had a trading volume of 1,831,651 shares, compared to its average volume of 1,557,038. The stock has a fifty day simple moving average of $73.22 and a two-hundred day simple moving average of $70.18. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of -84.61 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The firm had revenue of $172.21 million for the quarter. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PCOR shares. Mizuho raised their price target on Procore Technologies from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. BMO Capital Markets increased their target price on Procore Technologies from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Canaccord Genuity Group raised their target price on Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Stifel Nicolaus lifted their price target on Procore Technologies from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.26.

Institutional Trading of Procore Technologies

Several institutional investors have recently modified their holdings of PCOR. Alliancebernstein L.P. increased its position in shares of Procore Technologies by 493.9% during the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock valued at $445,391,000 after purchasing an additional 5,079,534 shares during the period. Assenagon Asset Management S.A. boosted its stake in Procore Technologies by 76.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock worth $294,449,000 after buying an additional 1,750,998 shares in the last quarter. Wasatch Advisors LP increased its holdings in Procore Technologies by 58.4% in the 2nd quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company’s stock valued at $318,592,000 after buying an additional 1,717,492 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Procore Technologies by 84.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company’s stock valued at $215,195,000 after buying an additional 1,492,869 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Procore Technologies by 77.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company’s stock valued at $248,066,000 after buying an additional 1,486,153 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.