Insider Selling: Procore Technologies (NYSE:PCOR) Director Sells 7,692 Shares of Stock

Key Points

• Procore Technologies Director Connor Kevin O sold 7,692 shares at an average price of $72.57, resulting in a total transaction of approximately $558,208 and a 0.68% decrease in his position.
• The company reported a negative net margin of 11.58% in its last quarterly earnings, despite a revenue increase of 13.9% year-over-year, totaling $323.92 million.
• Procore Technologies has an average price target of $83.06, with ratings ranging from "Strong Buy" to "Hold" from various analysts.

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Director Connor Kevin J. O sold 7,692 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $72.57, for a total transaction of $558,208.44. Following the transaction, the director directly owned 1,123,329 shares in the company, valued at approximately $81,519,985.53. The trade was a 0.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Procore Technologies Price Performance

NYSE PCOR traded down $0.91 on Monday, reaching $70.40. 1,037,562 shares of the stock traded hands, compared to its average volume of 1,311,636. Procore Technologies, Inc. has a 12 month low of $53.71 and a 12 month high of $88.92. The company has a market cap of $10.57 billion, a price-to-earnings ratio of -73.33 and a beta of 0.90. The firm's fifty day simple moving average is $69.09 and its 200 day simple moving average is $67.37. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $323.92 million during the quarter, compared to analysts' expectations of $311.91 million. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The company's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Procore Technologies during the fourth quarter valued at about $511,000. BNP Paribas Financial Markets acquired a new stake in shares of Procore Technologies during the fourth quarter worth approximately $1,058,000. Captrust Financial Advisors bought a new stake in shares of Procore Technologies during the fourth quarter worth $224,000. Nuveen Asset Management LLC raised its stake in shares of Procore Technologies by 1.3% in the fourth quarter. Nuveen Asset Management LLC now owns 368,268 shares of the company's stock worth $27,594,000 after acquiring an additional 4,831 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Procore Technologies during the fourth quarter worth approximately $231,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JMP Securities reissued a "market perform" rating and set a $95.00 target price on shares of Procore Technologies in a research note on Friday, August 1st. Citizens Jmp cut Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. Robert W. Baird upped their target price on Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Piper Sandler increased their price target on Procore Technologies from $75.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus upped their price objective on shares of Procore Technologies from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Procore Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $83.06.

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.