Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells $356,037.04 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $69.43, for a total transaction of $356,037.04. Following the completion of the transaction, the director now directly owns 1,478,927 shares of the company’s stock, valued at approximately $102,681,901.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Procore Technologies Trading Up 0.9 %

PCOR opened at $68.75 on Friday. The stock has a 50-day moving average of $73.51 and a 200 day moving average of $69.90. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a 12 month low of $48.11 and a 12 month high of $83.35. The firm has a market cap of $10.06 billion, a P/E ratio of -71.61 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, May 1st. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The firm had revenue of $269.43 million during the quarter, compared to analysts’ expectations of $263.13 million. As a group, research analysts forecast that Procore Technologies, Inc. will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PCOR. Cetera Advisors LLC bought a new stake in shares of Procore Technologies in the 1st quarter worth about $220,000. Burney Co. purchased a new stake in Procore Technologies in the 1st quarter worth about $1,371,000. Untitled Investments LP bought a new stake in Procore Technologies in the first quarter worth about $1,336,000. Washington Harbour Partners LP boosted its position in shares of Procore Technologies by 63.8% during the first quarter. Washington Harbour Partners LP now owns 24,900 shares of the company’s stock valued at $2,046,000 after buying an additional 9,700 shares during the period. Finally, Comerica Bank grew its stake in shares of Procore Technologies by 3.2% during the first quarter. Comerica Bank now owns 53,227 shares of the company’s stock valued at $4,374,000 after buying an additional 1,663 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PCOR. DA Davidson restated a “buy” rating and issued a $95.00 price objective on shares of Procore Technologies in a research report on Thursday, March 14th. Barclays dropped their price target on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 16th. BMO Capital Markets dropped their target price on shares of Procore Technologies from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Finally, Piper Sandler reduced their price target on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.79.

Procore Technologies Company Profile

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.