Procore Technologies (NYSE:PCOR) SVP William Fred Fleming, Jr. Sells 10,000 Shares

Procore Technologies, Inc. (NYSE:PCOR) SVP William Fred Fleming, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $58.95, for a total value of $589,500.00. Following the transaction, the senior vice president directly owned 104,981 shares of the company’s stock, valued at approximately $6,188,629.95. The trade was a 8.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Procore Technologies Trading Up 7.3%

PCOR opened at $62.21 on Friday. The stock has a 50-day moving average of $46.23 and a 200 day moving average of $51.10. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $82.32. The firm has a market cap of $9.45 billion, a P/E ratio of -239.26 and a beta of 0.70.

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

Analysts Set New Price Targets

PCOR has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Procore Technologies from $56.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. BTIG Research reissued a “buy” rating and issued a $66.00 price target on shares of Procore Technologies in a research report on Friday, July 24th. Jefferies Financial Group reduced their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. The Goldman Sachs Group cut their price target on Procore Technologies from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, Citizens Jmp raised shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price for the company in a report on Wednesday, April 29th. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.44.

Institutional Investors Weigh In On Procore Technologies

A number of large investors have recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. raised its stake in shares of Procore Technologies by 7,100.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock valued at $25,000 after purchasing an additional 426 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Procore Technologies during the 3rd quarter valued at approximately $34,000. Allworth Financial LP raised its position in shares of 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 acquiring an additional 204 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Procore Technologies during the fourth quarter worth $54,000. Finally, Global Retirement Partners LLC lifted its holdings in Procore Technologies by 116.2% in the fourth quarter. Global Retirement Partners LLC now owns 843 shares of the company’s stock worth $61,000 after acquiring an additional 453 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

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.