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

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) insider Benjamin C. Singer sold 4,500 shares of the company's stock in a transaction on 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 owned 97,557 shares of the company's stock, valued at approximately $7,316,775. The trade was a 4.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Procore Technologies Stock Performance

Shares of NYSE PCOR traded up $0.02 during mid-day trading on Monday, hitting $71.59. 1,475,843 shares of the company were exchanged, compared to its average volume of 1,666,990. The stock has a 50 day simple moving average of $68.40 and a 200-day simple moving average of $70.44. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.02. 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 (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The company had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. During the same quarter in the prior year, the firm earned $0.30 EPS. Procore Technologies's quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Scotiabank reduced their price target on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Mizuho reduced their target price on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Barclays upped their target price on Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a research report on Monday. Arete began coverage on Procore Technologies in a research report on Monday, June 16th. They set a "buy" rating and a $91.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $81.39.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its position in Procore Technologies by 15.1% in the fourth quarter. Covestor Ltd now owns 1,571 shares of the company's stock worth $118,000 after acquiring an additional 206 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Procore Technologies by 5.3% during the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company's stock worth $313,000 after purchasing an additional 210 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Procore Technologies by 1.7% in the 1st quarter. Park Avenue Securities LLC now owns 12,934 shares of the company's stock valued at $854,000 after purchasing an additional 221 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of Procore Technologies by 4.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 5,438 shares of the company's stock valued at $407,000 after purchasing an additional 225 shares during the period. Finally, Xponance Inc. lifted its stake in shares of Procore Technologies by 1.8% in the first quarter. Xponance Inc. now owns 14,864 shares of the company's stock valued at $981,000 after purchasing an additional 263 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.