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

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,769 shares of Procore Technologies stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $50.52, for a total value of $291,449.88. Following the sale, the director owned 1,021,751 shares in the company, valued at $51,618,860.52. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Procore Technologies Stock Down 1.4%

PCOR opened at $55.03 on Friday. The company has a 50 day moving average of $62.68 and a 200 day moving average of $68.86. Procore Technologies, Inc. has a 12 month low of $46.08 and a 12 month high of $82.32. 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 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 released 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. The firm had revenue of $349.11 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 earnings per share. On average, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on PCOR. Robert W. Baird boosted their target price on Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Zacks Research downgraded shares of Procore Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Barclays reduced their price target on Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. DA Davidson cut their target price on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. Finally, KeyCorp cut their target price 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. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.95.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC boosted its position in shares of Procore Technologies by 465.2% in the 3rd 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 period. Wilmington Savings Fund Society FSB acquired a new stake in Procore Technologies during the third quarter valued at approximately $34,000. Jones Financial Companies Lllp grew its stake in Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after buying an additional 199 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies during the fourth quarter valued at approximately $41,000. Finally, Allworth Financial LP lifted its position in Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after purchasing an additional 204 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Company Profile

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.