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 $70.56, totaling approximately $542,747.52, representing a 0.68% decrease in their ownership.
• The company's stock is currently down 2.9% and has a market capitalization of $10.61 billion with a PE ratio of -73.56.
• Analysts have rated Procore Technologies with a consensus rating of "Moderate Buy" and set an average target price of $83.11, with several firms increasing their price targets recently.

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Director Connor Kevin O sold 7,692 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $70.56, for a total value of $542,747.52. Following the transaction, the director owned 1,115,637 shares of the company's stock, valued at approximately $78,719,346.72. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Procore Technologies Stock Down 2.9%

NYSE PCOR traded down $2.13 during trading on Thursday, hitting $70.62. The stock had a trading volume of 649,473 shares, compared to its average volume of 1,454,059. Procore Technologies, Inc. has a 12 month low of $53.71 and a 12 month high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. The company's 50-day moving average price is $69.51 and its two-hundred day moving average price is $67.82. The company has a market capitalization of $10.61 billion, a PE ratio of -73.56 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The business had revenue of $172.21 million during the quarter. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PCOR. Piper Sandler restated an "overweight" rating and set a $82.00 price objective on shares of Procore Technologies in a research note on Tuesday. KeyCorp upped their target price on Procore Technologies from $77.00 to $81.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Barclays raised their price target on Procore Technologies from $72.00 to $82.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Stifel Nicolaus upped their price objective on Procore Technologies from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Robert W. Baird increased their price objective on Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cooper Investors PTY Ltd. increased its holdings in shares of Procore Technologies by 29.7% during the 3rd quarter. Cooper Investors PTY Ltd. now owns 95,315 shares of the company's stock worth $6,950,000 after acquiring an additional 21,802 shares during the last quarter. Inspire Investing LLC bought a new position in Procore Technologies during the third quarter worth $300,000. Farther Finance Advisors LLC increased its holdings in shares of Procore Technologies by 304.5% in the third quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company's stock valued at $112,000 after purchasing an additional 1,157 shares during the last quarter. Curated Wealth Partners LLC raised its position in shares of Procore Technologies by 12.7% in the third quarter. Curated Wealth Partners LLC now owns 3,367 shares of the company's stock valued at $246,000 after purchasing an additional 379 shares during the period. Finally, Hilltop National Bank raised its position in shares of Procore Technologies by 65.6% in the third quarter. Hilltop National Bank now owns 1,492 shares of the company's stock valued at $109,000 after purchasing an additional 591 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Company Profile

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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