Procore Technologies (NYSE:PCOR) Chairman Craig Jr. Courtemanche Sells 56,122 Shares

Procore Technologies, Inc. (NYSE:PCOR – Get Free Report) Chairman Craig Jr. Courtemanche sold 56,122 shares of Procore Technologies stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $57.11, for a total value of $3,205,127.42. Following the completion of the transaction, the chairman directly owned 919,704 shares in the company, valued at approximately $52,524,295.44. This represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Trading Down 1.6%

PCOR opened at $57.82 on Thursday. Procore Technologies, Inc. has a 1-year low of $38.03 and a 1-year high of $82.32. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of -222.38 and a beta of 0.70. The business has a 50 day moving average of $46.00 and a 200-day moving average of $51.13.

Get Procore Technologies alerts:

Procore Technologies (NYSE:PCOR – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The business had revenue of $375.21 million for the quarter, compared to the consensus estimate of $365.82 million. During the same quarter last year, the company posted $0.35 earnings per share. Procore Technologies’s quarterly revenue was up 15.8% on a year-over-year basis. Equities analysts predict that Procore Technologies, Inc. will post 0.09 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Procore Technologies during the second quarter worth $300,345,000. Deutsche Bank AG acquired a new stake in Procore Technologies in the second quarter worth about $114,444,000. Assenagon Asset Management S.A. increased its position in Procore Technologies by 95.3% in the second quarter. Assenagon Asset Management S.A. now owns 4,398,163 shares of the company’s stock worth $178,653,000 after purchasing an additional 2,146,182 shares during the period. Wasatch Advisors LP raised its holdings in Procore Technologies by 58.4% during the 2nd quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company’s stock worth $318,592,000 after purchasing an additional 1,717,492 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Procore Technologies by 77.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company’s stock worth $248,066,000 after purchasing an additional 1,486,153 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Guggenheim began coverage on Procore Technologies in a report on Thursday, July 23rd. They set a “buy” rating and a $68.00 price objective on the stock. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price for the company in a research note on Wednesday, April 29th. BTIG Research reaffirmed a “buy” rating and issued a $66.00 target price on shares of Procore Technologies in a research report on Friday, July 24th. Finally, UBS Group lifted their price target on shares of Procore Technologies from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.44.

Check Out Our Latest Stock Report on Procore Technologies

Procore Technologies Company Profile

(Get Free Report)

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.

Featured Stories

• Five stocks we like better than Procore Technologies
• GE Vernova’s AI Power Boom Faces a Profit Test
• Cardinal Health Earnings: Can Perfection Get Priced In Twice?
• Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand
• Legacy Jet Builders Stall While Embraer Accelerates to New Highs

Receive News & Ratings for Procore Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procore Technologies and related companies with MarketBeat.com's FREE daily email newsletter.