Insider Selling: Procore Technologies (NYSE:PCOR) Director Sells $241,894.17 in Stock

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

Procore Technologies Stock Up 0.0%

Procore Technologies stock opened at $43.99 on Friday. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $82.32. The stock has a fifty day simple moving average of $47.02 and a two-hundred day simple moving average of $55.83. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.02. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of -86.26 and a beta of 0.75.

Procore Technologies (NYSE:PCOR) last announced its quarterly 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). Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.24%. The business had revenue of $359.28 million for the quarter, compared to the consensus estimate of $352.82 million. During the same period in the previous year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts predict that Procore Technologies, Inc. will post 0.06 EPS for the current fiscal year.

Institutional Trading of Procore Technologies

Several institutional investors and hedge funds have recently modified their holdings of PCOR. Argos Wealth Advisors LLC boosted its holdings 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 buying an additional 195 shares during the period. Intellectus Partners LLC lifted its position in shares of Procore Technologies by 1.6% in the third quarter. Intellectus Partners LLC now owns 12,505 shares of the company’s stock valued at $912,000 after acquiring an additional 200 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Procore Technologies by 1.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 14,685 shares of the company’s stock valued at $1,068,000 after acquiring an additional 202 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Procore Technologies by 48.2% in the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after acquiring an additional 204 shares during the period. Finally, Vident Advisory LLC boosted its stake in shares of Procore Technologies by 6.0% in the fourth quarter. Vident Advisory LLC now owns 3,860 shares of the company’s stock worth $281,000 after acquiring an additional 219 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PCOR shares. Citizens Jmp upgraded shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target for the company in a research note on Wednesday, April 29th. Zacks Research upgraded shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Piper Sandler dropped their target price on shares of Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. TD Cowen cut their target price on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Procore Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Procore Technologies currently 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.