Procore Technologies (NYSE:PCOR) Director Connor Kevin O Sells 9,615 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 9,615 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $54.48, for a total value of $523,825.20. Following the sale, the director directly owned 1,012,136 shares in the company, valued at approximately $55,141,169.28. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Procore Technologies Stock Down 1.4%

PCOR stock opened at $55.03 on Friday. The business has a 50-day simple moving average of $62.68 and a 200 day simple moving average of $68.86. Procore Technologies, Inc. has a 52 week low of $46.08 and a 52 week high of $82.32. The company has a quick ratio of 1.33, a current ratio of 1.32 and a debt-to-equity ratio of 0.02. The company has a market cap of $8.26 billion, a PE ratio of -82.13 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 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $349.11 million during the quarter, compared to the consensus estimate of $340.80 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 earnings per share. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Procore Technologies by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 13,158,506 shares of the company’s stock worth $957,150,000 after acquiring an additional 804,920 shares during the last quarter. Alliancebernstein L.P. increased its position in Procore Technologies by 493.9% during the 3rd quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock valued at $445,391,000 after purchasing an additional 5,079,534 shares during the period. Wasatch Advisors LP raised 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 worth $362,560,000 after purchasing an additional 315,604 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Procore Technologies by 76.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock worth $294,449,000 after purchasing an additional 1,750,998 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Procore Technologies by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 3,539,062 shares of the company’s stock worth $257,431,000 after purchasing an additional 137,171 shares during the period. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Zacks Research downgraded Procore Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. KeyCorp lowered their price objective on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Barclays dropped their price objective on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. UBS Group decreased their target price on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. Seventeen 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. According to MarketBeat.com, the stock presently has a consensus 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.