Procore Technologies (NYSE:PCOR) Director Sells $722,374.95 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 9,615 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $75.13, for a total value of $722,374.95. Following the completion of the transaction, the director directly owned 1,052,519 shares in the company, valued at approximately $79,075,752.47. This represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Procore Technologies Stock Performance

Shares of Procore Technologies stock traded up $0.73 during trading hours on Friday, reaching $77.52. 1,779,463 shares of the stock traded hands, compared to its average volume of 1,250,746. Procore Technologies, Inc. has a one year low of $53.71 and a one year high of $88.92. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of -92.29 and a beta of 0.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average price of $73.76 and a 200 day moving average price of $70.59.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The business had revenue of $172.21 million during the quarter. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Procore Technologies in a research report on Friday, October 3rd. They set a “buy” rating and a $84.00 price objective for the company. Piper Sandler boosted their price target on Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. DA Davidson raised Procore Technologies to a “hold” rating in a research report on Friday, November 7th. KeyCorp boosted their price objective on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, William Blair restated an “outperform” rating on shares of Procore Technologies in a research note on Friday, October 17th. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $84.47.

Hedge Funds Weigh In On Procore Technologies

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Procore Technologies by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,353,586 shares of the company’s stock worth $900,823,000 after purchasing an additional 718,663 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Procore Technologies by 493.9% during the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock valued at $445,391,000 after buying an additional 5,079,534 shares during the last quarter. Wasatch Advisors LP grew its holdings in Procore Technologies by 6.8% during the 3rd quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company’s stock valued at $362,560,000 after buying an additional 315,604 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Procore Technologies by 76.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock valued at $294,449,000 after buying an additional 1,750,998 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Procore Technologies by 77.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company’s stock worth $248,066,000 after acquiring an additional 1,486,153 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.