Benjamin C. Singer Sells 1,390 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) insider Benjamin C. Singer sold 1,390 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $75.00, for a total transaction of $104,250.00. Following the transaction, the insider directly owned 96,167 shares of the company's stock, valued at approximately $7,212,525. This represents a 1.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Procore Technologies Trading Up 1.7%

NYSE PCOR traded up $1.29 during trading on Friday, hitting $75.60. The company had a trading volume of 1,060,782 shares, compared to its average volume of 1,239,095. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The company has a market cap of $11.28 billion, a price-to-earnings ratio of -87.91 and a beta of 0.89. The company's fifty day moving average is $69.26 and its 200-day moving average is $70.33.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping the consensus estimate 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 business had revenue of $310.63 million during the quarter, compared to analyst estimates of $302.66 million. During the same period in the prior year, the business earned $0.30 EPS. The company's revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Piper Sandler reduced their price objective on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. UBS Group cut their price target on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Arete assumed coverage on shares of Procore Technologies in a research note on Monday, June 16th. They issued a "buy" rating and a $91.00 price target for the company. Finally, Stifel Nicolaus cut 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.39.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Procore Technologies by 277.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock worth $35,000 after buying an additional 385 shares during the period. Huntington National Bank lifted its stake in Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after acquiring an additional 404 shares during the period. SVB Wealth LLC bought a new position in Procore Technologies during the 1st quarter valued at about $49,000. Hilltop National Bank bought a new position in Procore Technologies during the 2nd quarter valued at about $62,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in Procore Technologies by 181.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock valued at $63,000 after acquiring an additional 544 shares during the period. 81.10% of the stock is currently 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.