Procore Technologies, Inc. (NYSE:PCOR) Insider Sells $579,933.20 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 6,937 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $83.60, for a total transaction of $579,933.20. Following the sale, the insider now owns 72,110 shares of the company’s stock, valued at approximately $6,028,396. This represents a 8.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Procore Technologies Trading Down 0.9 %

Shares of PCOR stock opened at $82.28 on Monday. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The firm’s fifty day simple moving average is $78.09 and its 200 day simple moving average is $69.61. The firm has a market capitalization of $12.23 billion, a P/E ratio of -114.27 and a beta of 0.84. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. As a group, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on PCOR. UBS Group lifted their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Stifel Nicolaus lifted their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JMP Securities lifted their target price on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 18th. Finally, Mizuho lifted their target price on shares of Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.94.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its holdings in Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. Parkside Financial Bank & Trust increased its holdings in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC increased its holdings in Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after buying an additional 162 shares during the period. International Assets Investment Management LLC increased its holdings in Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares during the period. Finally, Huntington National Bank increased its holdings in Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after buying an additional 404 shares during the period. Institutional investors own 81.10% of the company’s stock.

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.