Craig Jr. Courtemanche Sells 56,122 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Chairman Craig Jr. Courtemanche sold 56,122 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $45.14, for a total transaction of $2,533,347.08. Following the sale, the chairman owned 919,704 shares of the company’s stock, valued at $41,515,438.56. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Trading Up 0.4%

Shares of PCOR stock opened at $42.37 on Friday. The firm has a 50 day moving average price of $50.99 and a two-hundred day moving average price of $59.46. 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 company has a market capitalization of $6.39 billion, a PE ratio of -83.07 and a beta of 0.73. Procore Technologies, Inc. has a 12-month low of $40.74 and a 12-month high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $359.28 million for the quarter, compared to analyst estimates of $352.82 million. Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. As a group, analysts predict that Procore Technologies, Inc. will post 0.06 earnings per share for the current year.

Institutional Trading of Procore Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Argos Wealth Advisors LLC raised its stake in Procore Technologies by 3.9% in the 1st quarter. Argos Wealth Advisors LLC now owns 5,154 shares of the company’s stock worth $294,000 after purchasing an additional 195 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 199 shares in the last quarter. Intellectus Partners LLC increased its holdings in Procore Technologies by 1.6% in the 3rd quarter. Intellectus Partners LLC now owns 12,505 shares of the company’s stock valued at $912,000 after buying an additional 200 shares during the period. Chicago Partners Investment Group LLC increased its holdings in Procore Technologies by 1.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 14,685 shares of the company’s stock valued at $1,068,000 after buying an additional 202 shares during the period. Finally, Allworth Financial LP increased 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. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

PCOR has been the subject of several research reports. Citizens Jmp upgraded shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price objective for the company in a research report on Wednesday, April 29th. UBS Group dropped their price objective on shares of Procore Technologies from $74.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Piper Sandler dropped their price objective on shares of Procore Technologies from $79.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Procore Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, BTIG Research reiterated a “buy” rating and issued a $66.00 price objective on shares of Procore Technologies in a research note on Wednesday, May 6th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.56.

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.