Insider Selling: Procore Technologies (NYSE:PCOR) Insider Sells $193,950.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 2,586 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $75.00, for a total value of $193,950.00. Following the completion of the transaction, the insider directly owned 84,345 shares of the company’s stock, valued at $6,325,875. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Trading Down 0.0%

Procore Technologies stock opened at $75.33 on Monday. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $80.40. The stock’s 50 day simple moving average is $57.53 and its two-hundred day simple moving average is $53.50. The firm has a market cap of $11.45 billion, a PE ratio of -327.49 and a beta of 0.75.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates 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 negative net margin of 2.31% and a positive return on equity of 2.59%. The business’s revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. On average, equities research analysts forecast that Procore Technologies, Inc. will post 0.43 EPS for the current year.

Key Headlines Impacting Procore Technologies

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

Analyst Ratings Changes

Several analysts recently commented on PCOR shares. Citizens Jmp raised their price target on shares of Procore Technologies from $77.00 to $91.00 and gave the company a “market outperform” rating in a research report on Thursday. Cantor Fitzgerald increased their target price on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. The Goldman Sachs Group raised their target price on Procore Technologies from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Procore Technologies from $69.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Finally, Guggenheim lifted their price target on Procore Technologies from $68.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Eighteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio grew its stake in Procore Technologies by 9.1% in the 1st quarter. Strs Ohio now owns 2,996 shares of the company’s stock valued at $171,000 after acquiring an additional 251 shares during the period. Allworth Financial LP raised its position in Procore Technologies by 128.3% during the third quarter. Allworth Financial LP now owns 799 shares of the company’s stock worth $41,000 after acquiring an additional 449 shares during the period. Parallel Advisors LLC raised its position in Procore Technologies by 10.3% during the third quarter. Parallel Advisors LLC now owns 5,264 shares of the company’s stock worth $272,000 after acquiring an additional 492 shares during the period. Versant Capital Management Inc raised its position in Procore Technologies by 50.3% during the second quarter. Versant Capital Management Inc now owns 1,581 shares of the company’s stock worth $64,000 after acquiring an additional 529 shares during the period. Finally, Meeder Advisory Services Inc. lifted its holdings in Procore Technologies by 23.2% during the first quarter. Meeder Advisory Services Inc. now owns 3,756 shares of the company’s stock valued at $214,000 after purchasing an additional 708 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

About Procore Technologies

Procore Technologies provides cloud-based construction management software designed to help construction companies plan, manage and execute projects. Its platform connects project teams and stakeholders, including owners, general contractors, specialty contractors and design professionals.

Procore’s products support project management, construction financials, workforce coordination, quality and safety processes, and project data and analytics. The platform also offers integrations with third-party applications to help customers connect construction workflows and business systems.

Founded in 2002, Procore serves customers in multiple regions, including North America, Europe and Asia-Pacific.