Connor Kevin O Sells 7,692 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 7,692 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $62.03, for a total transaction of $477,134.76. Following the completion of the sale, the director owned 931,362 shares of the company’s stock, valued at approximately $57,772,384.86. The trade was a 0.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Down 4.4%

Procore Technologies stock opened at $57.93 on Friday. The company’s fifty day simple moving average is $52.40 and its 200-day simple moving average is $51.86. Procore Technologies, Inc. has a 12 month low of $38.03 and a 12 month high of $82.32. The stock has a market cap of $8.80 billion, a P/E ratio of -222.81 and a beta of 0.74.

Procore Technologies (NYSE:PCOR) 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. The business had revenue of $375.21 million during the quarter, compared to analyst estimates of $365.82 million. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.Procore Technologies’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. On average, equities research analysts expect that Procore Technologies, Inc. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on PCOR shares. Weiss Ratings restated a “sell (e+)” rating on shares of Procore Technologies in a report on Monday, July 6th. Citigroup reissued a “market outperform” rating on shares of Procore Technologies in a research report on Tuesday, July 21st. UBS Group increased 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. BMO Capital Markets raised their price target on shares of Procore Technologies from $56.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Procore Technologies in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $70.44.

Institutional Trading of Procore Technologies

Several large investors have recently modified their holdings of PCOR. Argos Wealth Advisors LLC boosted its holdings in Procore Technologies by 3.9% during the first quarter. Argos Wealth Advisors LLC now owns 5,154 shares of the company’s stock valued at $294,000 after acquiring an additional 195 shares during the period. Intellectus Partners LLC increased its stake in shares of Procore Technologies by 1.6% in the fourth quarter. Intellectus Partners LLC now owns 12,705 shares of the company’s stock worth $924,000 after purchasing an additional 200 shares during the period. Allworth Financial LP lifted 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 worth $46,000 after purchasing an additional 204 shares during the last quarter. Vident Advisory LLC boosted its stake in Procore Technologies by 6.0% during the 4th quarter. Vident Advisory LLC now owns 3,860 shares of the company’s stock valued at $281,000 after purchasing an additional 219 shares during the period. Finally, George Kaiser Family Foundation boosted its stake in Procore Technologies by 0.5% during the 4th quarter. George Kaiser Family Foundation now owns 52,306 shares of the company’s stock valued at $3,805,000 after purchasing an additional 241 shares during the period. 81.10% of the stock is 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.