Procore Technologies (NYSE:PCOR) CRO Sells $753,000.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CRO Lawrence Joseph Stack sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $75.30, for a total transaction of $753,000.00. Following the transaction, the executive owned 184,128 shares in the company, valued at approximately $13,864,838.40. The trade was a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Procore Technologies Stock Performance

PCOR stock traded up $0.93 during trading hours on Thursday, reaching $76.85. The stock had a trading volume of 986,892 shares, compared to its average volume of 1,456,473. The stock has a 50-day simple moving average of $73.68 and a 200 day simple moving average of $70.54. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The stock has a market capitalization of $11.95 billion, a PE ratio of -91.49 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share 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. Analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PCOR shares. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Piper Sandler increased their price target on Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Berenberg Bank started coverage on Procore Technologies in a report on Friday, October 3rd. They set a “buy” rating and a $84.00 price target for the company. KeyCorp lifted their price objective on shares of Procore Technologies from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Canaccord Genuity Group increased their price objective on shares of Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Thirteen investment 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, Procore Technologies has an average rating of “Moderate Buy” and a consensus target price of $84.47.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd lifted its position in shares of Procore Technologies by 70.7% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 5,006 shares of the company’s stock worth $365,000 after buying an additional 2,073 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Procore Technologies during the third quarter worth about $18,962,000. Wilmington Savings Fund Society FSB bought a new position in shares of Procore Technologies in the third quarter worth about $34,000. Coldstream Capital Management Inc. lifted its holdings in shares of Procore Technologies by 42.0% in the third quarter. Coldstream Capital Management Inc. now owns 5,937 shares of the company’s stock worth $433,000 after acquiring an additional 1,757 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at approximately $117,000. Institutional investors 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.