Procore Technologies (NYSE:PCOR) Director Connor Kevin O Sells 15,386 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 15,386 shares of Procore Technologies stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $54.93, for a total value of $845,152.98. Following the transaction, the director owned 946,746 shares in the company, valued at approximately $52,004,757.78. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $55.51 on Thursday. The company has a market capitalization of $8.43 billion, a P/E ratio of -213.48 and a beta of 0.70. The business has a 50-day moving average of $45.36 and a two-hundred day moving average of $51.42. Procore Technologies, Inc. has a 1 year low of $38.03 and a 1 year high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The business had revenue of $375.21 million during the quarter, compared to analyst estimates of $365.82 million. During the same period in the previous year, the firm earned $0.35 EPS. Procore Technologies’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities analysts anticipate that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PCOR. SJS Investment Consulting Inc. lifted its position in Procore Technologies by 7,100.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock worth $25,000 after buying an additional 426 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Procore Technologies in the 3rd quarter valued at about $34,000. V Square Quantitative Management LLC acquired a new stake in shares of Procore Technologies in the fourth quarter valued at about $41,000. Allworth Financial LP increased its position in shares of Procore Technologies by 48.2% in the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after acquiring an additional 204 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new stake in Procore Technologies during the fourth quarter worth about $54,000. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

PCOR has been the topic of a number of research analyst reports. BMO Capital Markets raised their price objective on shares of Procore Technologies from $56.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Barclays lifted their price target on Procore Technologies from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target on the stock in a report on Wednesday, April 29th. BTIG Research reaffirmed a “buy” rating and set a $66.00 price objective on shares of Procore Technologies in a research report on Friday, July 24th. Finally, TD Cowen reduced their price objective on Procore Technologies from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.44.

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.