Insider Selling: Procore Technologies (NYSE:PCOR) Insider Sells $211,250.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 4,225 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total value of $211,250.00. Following the sale, the insider directly owned 64,660 shares of the company’s stock, valued at $3,233,000. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Procore Technologies Stock Up 5.7%

Shares of NYSE PCOR opened at $55.80 on Friday. Procore Technologies, Inc. has a 1 year low of $46.08 and a 1 year high of $82.32. The firm’s 50-day moving average is $63.07 and its 200-day moving average is $68.90. The company has a current ratio of 1.32, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $8.38 billion, a PE ratio of -83.28 and a beta of 0.89.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. MidFirst Bank acquired a new position in shares of Procore Technologies in the fourth quarter valued at approximately $156,000. Invesco Ltd. lifted its position in Procore Technologies by 9.7% in the 4th quarter. Invesco Ltd. now owns 132,034 shares of the company’s stock valued at $9,604,000 after acquiring an additional 11,673 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Procore Technologies by 7.9% in the 4th quarter. Corient Private Wealth LLC now owns 5,302 shares of the company’s stock worth $387,000 after purchasing an additional 389 shares during the period. Vident Advisory LLC increased its holdings in Procore Technologies by 6.0% during the 4th quarter. Vident Advisory LLC now owns 3,860 shares of the company’s stock worth $281,000 after purchasing an additional 219 shares in the last quarter. Finally, XN LP increased its holdings in Procore Technologies by 0.5% during the 4th quarter. XN LP now owns 2,323,031 shares of the company’s stock worth $168,977,000 after purchasing an additional 11,481 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PCOR shares. Barclays decreased their target price on Procore Technologies from $90.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. KeyCorp reduced their price objective on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. UBS Group lowered their target price on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. TD Cowen increased their target price on shares of Procore Technologies from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. Seventeen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.95.

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.