Procore Technologies (NYSE:PCOR) Director Connor Kevin O Sells 5,769 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,769 shares of Procore Technologies stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $51.07, for a total value of $294,622.83. Following the transaction, the director owned 990,983 shares of the company’s stock, valued at $50,609,501.81. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $55.38 on Friday. The company has a market cap of $8.31 billion, a PE ratio of -82.66 and a beta of 0.85. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 52 week low of $46.08 and a 52 week high of $82.32. The business has a 50 day moving average price of $54.80 and a 200-day moving average price of $65.69.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 return on equity of 3.96% and a negative net margin of 7.62%.Procore Technologies’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share. Equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its stake in Procore Technologies by 465.2% in the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after purchasing an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Procore Technologies during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp grew its stake in shares of Procore Technologies by 70.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 199 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Procore Technologies during the 4th quarter worth $41,000. Finally, Allworth Financial LP increased its holdings in Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BTIG Research restated a “buy” rating and set a $66.00 price target on shares of Procore Technologies in a report on Wednesday, March 11th. BMO Capital Markets decreased their price objective on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. The Goldman Sachs Group cut their target price on Procore Technologies from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Canaccord Genuity Group reduced their target price on Procore Technologies from $90.00 to $72.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Wall Street Zen raised Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Fifteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.82.

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.