Procore Technologies (NYSE:PCOR) Stock: Insider Elisa Steele Sells 3,337 Shares

Procore Technologies, Inc. (NYSE:PCOR) Director Elisa Steele sold 3,337 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $69.10, for a total transaction of $230,586.70. Following the completion of the transaction, the director owned 55,034 shares in the company, valued at $3,802,849.40. This represents a 5.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Elisa Steele also recently made the following trade(s):

• On Wednesday, August 19th, Elisa Steele sold 1,500 shares of Procore Technologies stock. The shares were sold at an average price of $63.00, for a total value of $94,500.00.

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $75.33 on Friday. Procore Technologies, Inc. has a 1-year low of $38.03 and a 1-year high of $80.40. The company has a market capitalization of $11.45 billion, a PE ratio of -327.49 and a beta of 0.75. The business has a 50-day moving average of $57.53 and a 200-day moving average of $53.50.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $402.31 million for the quarter, compared to analysts’ expectations of $384.38 million. Procore Technologies had a positive return on equity of 2.59% and a negative net margin of 2.31%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts expect that Procore Technologies, Inc. will post 0.43 earnings per share for the current fiscal year.

Procore Technologies News Roundup

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Procore reported Q3 earnings of $0.51 per share, topping estimates of about $0.45–$0.46. Revenue rose 18.7% year over year to $402.3 million, also exceeding expectations. Shares climbed 12.4% following the earnings beat. Procore shares climb following earnings beat
• Positive Sentiment: Several firms raised their price targets and maintained or issued bullish ratings. Citizens JMP lifted its target to $91, while UBS raised its target to $95 and reiterated Buy; Loop Capital also upgraded the stock from Hold to Buy with a $93 target. These actions signal stronger analyst confidence after the results. Citizens JMP raises Procore price target
• Neutral Sentiment: A Procore director sold 7,692 shares under a pre-arranged Rule 10b5-1 trading plan. The sale was a small reduction in his holdings, which remained substantial after the transaction. Director share sale

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PCOR shares. Cantor Fitzgerald increased their target price on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. Guggenheim lifted their price target on shares of Procore Technologies from $68.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler upped their price target on shares of Procore Technologies from $68.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. Mizuho set a $68.00 price objective on shares of Procore Technologies in a research note on Wednesday. Finally, DA Davidson set a $56.00 price objective on shares of Procore Technologies in a report on Monday, September 28th. Eighteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.35.

Institutional Trading of Procore Technologies

Several institutional investors have recently added to or reduced their stakes in PCOR. Deutsche Bank AG acquired a new position in shares of Procore Technologies during the second quarter valued at $114,444,000. Bank of America Corp DE acquired a new stake in shares of Procore Technologies in the 2nd quarter worth about $34,651,000. Whetstone Capital Advisors LLC acquired a new stake in shares of Procore Technologies in the 2nd quarter worth about $1,990,000. Hillsdale Investment Management Inc. bought a new stake in Procore Technologies in the 1st quarter valued at about $3,181,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Procore Technologies in the 2nd quarter valued at about $964,000. Institutional investors own 81.10% of the company’s stock.

About Procore Technologies

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company’s technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore’s products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.