Connor Kevin O Sells 7,692 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 7,692 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $57.25, for a total value of $440,367.00. Following the completion of the sale, the director directly owned 1,004,444 shares in the company, valued at approximately $57,504,419. This represents a 0.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $57.13 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.32. The business’s fifty day moving average price is $59.45 and its two-hundred day moving average price is $68.31. Procore Technologies, Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $82.32. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of -85.27 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The company had revenue of $349.11 million during the quarter, compared to analysts’ expectations of $340.80 million. During the same period last year, the business earned $0.01 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. As a group, analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its position in shares of Procore Technologies by 465.2% during the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after purchasing an additional 321 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Procore Technologies in the third quarter valued at approximately $34,000. Jones Financial Companies Lllp raised its position 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 during the last quarter. V Square Quantitative Management LLC bought a new position in Procore Technologies in the 4th quarter worth approximately $41,000. Finally, Allworth Financial LP lifted its holdings in Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after buying an additional 204 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PCOR. TD Cowen upped their price objective on shares of Procore Technologies from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Zacks Research cut shares of Procore Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Canaccord Genuity Group reduced their target price on Procore Technologies from $90.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, February 13th. KeyCorp decreased their price target on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Finally, Wall Street Zen downgraded Procore Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.05.

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.