Procore Technologies, Inc. (NYSE:PCOR) Director Sells $581,412.60 in Stock

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Director Connor Kevin J. O sold 8,035 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $72.36, for a total transaction of $581,412.60. Following the completion of the transaction, the director directly owned 1,154,097 shares of the company's stock, valued at approximately $83,510,458.92. The trade was a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Procore Technologies Stock Performance

NYSE:PCOR traded up $0.02 during mid-day trading on Monday, reaching $71.59. The company's stock had a trading volume of 1,475,843 shares, compared to its average volume of 1,666,990. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.68 billion, a P/E ratio of -83.24 and a beta of 0.89. The firm's fifty day moving average price is $68.40 and its two-hundred day moving average price is $70.44. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $310.63 million during the quarter, compared to analysts' expectations of $302.66 million. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. On average, equities analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BMO Capital Markets decreased their price objective on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Scotiabank decreased 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 note on Thursday, April 24th. Piper Sandler dropped their price objective on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. UBS Group cut their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, DA Davidson upgraded shares of Procore Technologies to a "hold" rating in a report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Procore Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $81.39.

Hedge Funds Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PCOR. Northwestern Mutual Wealth Management Co. raised its position in Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock worth $35,000 after acquiring an additional 385 shares during the period. Huntington National Bank increased its stake in shares of Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after purchasing an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Procore Technologies by 1,434.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock worth $54,000 after purchasing an additional 674 shares during the period. SVB Wealth LLC purchased a new position in Procore Technologies during the first quarter valued at $49,000. Finally, Aster Capital Management DIFC Ltd grew its holdings in Procore Technologies by 181.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock valued at $63,000 after purchasing an additional 544 shares during the period. 81.10% of the stock is owned by 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.