Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells 8,035 Shares of Stock

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

Procore Technologies Stock Down 1.8%

PCOR stock traded down $1.34 on Friday, reaching $71.59. 1,398,213 shares of the company traded hands, compared to its average volume of 1,665,029. The firm has a fifty day simple moving average of $68.13 and a 200-day simple moving average of $70.62. 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 company has a market cap of $10.68 billion, a P/E ratio of -83.24 and a beta of 0.89. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92.

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 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 return on equity of 6.54% and a negative net margin of 10.73%. The company's revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. Research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

PCOR has been the topic of several research analyst reports. Macquarie reduced their target price on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets reduced their price objective on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Scotiabank dropped their target price 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. UBS Group cut their target price on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price target on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.83.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PCOR. Northwestern Mutual Wealth Management Co. lifted its position in shares of Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock valued at $35,000 after acquiring an additional 385 shares in the last quarter. Huntington National Bank lifted its holdings 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 acquiring an additional 404 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Procore Technologies in the first quarter worth approximately $49,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Procore Technologies by 1,434.0% during the fourth 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 last quarter. Finally, Aster Capital Management DIFC Ltd boosted its holdings in shares of Procore Technologies by 181.9% in 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 currently 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.

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