Connor Kevin O Sells 5,769 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,769 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $41.93, for a total value of $241,894.17. Following the completion of the transaction, the director owned 967,901 shares in the company, valued at $40,584,088.93. The trade was a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Trading Up 0.0%

Shares of PCOR opened at $43.99 on Friday. Procore Technologies, Inc. has a 52-week low of $38.03 and a 52-week high of $82.32. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average is $47.02 and its two-hundred day moving average is $55.83. The stock has a market cap of $6.64 billion, a PE ratio of -86.26 and a beta of 0.75.

Procore Technologies (NYSE:PCOR) last released its earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $359.28 million for the quarter, compared to analysts’ expectations of $352.82 million. Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.Procore Technologies’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. Research analysts forecast that Procore Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. lifted its stake in shares of Procore Technologies by 7,100.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock valued at $25,000 after purchasing an additional 426 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Procore Technologies during the 3rd quarter worth about $34,000. V Square Quantitative Management LLC acquired a new stake in shares of Procore Technologies during the 4th quarter worth about $41,000. Allworth Financial LP raised its holdings in Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after buying an additional 204 shares during the period. Finally, Employees Retirement System of Texas purchased a new stake in Procore Technologies in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of recent research reports. Zacks Research upgraded shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. Wall Street Zen lowered Procore Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Citizens Jmp raised Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target for the company in a report on Wednesday, April 29th. Piper Sandler reduced their price objective on Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group reduced their price objective on Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.