Procore Technologies, Inc. (NYSE:PCOR) Insider Benjamin C. Singer Sells 4,500 Shares

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) insider Benjamin C. Singer sold 4,500 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $75.00, for a total transaction of $337,500.00. Following the completion of the transaction, the insider directly owned 97,557 shares of the company's stock, valued at approximately $7,316,775. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Procore Technologies Trading Down 1.8%

NYSE:PCOR traded down $1.34 during trading hours on Friday, reaching $71.59. 1,398,213 shares of the company were exchanged, compared to its average volume of 1,667,253. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of -83.24 and a beta of 0.89. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The stock has a 50 day simple moving average of $68.27 and a 200 day simple moving average of $70.58.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The company had revenue of $310.63 million for the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. Procore Technologies's revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. As a group, analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Procore Technologies

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Procore Technologies by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company's stock valued at $891,692,000 after acquiring an additional 838,925 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Procore Technologies by 84.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company's stock valued at $215,195,000 after acquiring an additional 1,492,869 shares during the period. Capital World Investors raised its stake in shares of Procore Technologies by 453.6% in the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company's stock valued at $233,704,000 after acquiring an additional 2,555,612 shares during the period. Principal Financial Group Inc. raised its stake in shares of Procore Technologies by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company's stock valued at $182,365,000 after acquiring an additional 82,311 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Procore Technologies by 14.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock valued at $196,873,000 after acquiring an additional 322,367 shares during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

PCOR has been the topic of several recent research reports. Piper Sandler reduced their price target on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Barclays upped their price target on shares of Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Stifel Nicolaus reduced their price target on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Arete initiated coverage on shares of Procore Technologies in a report on Monday, June 16th. They issued a "buy" rating and a $91.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $80.83.

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.