Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O Sells 7,692 Shares

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Director Connor Kevin J. O sold 7,692 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.34, for a total transaction of $502,595.28. Following the completion of the transaction, the director now owns 1,177,516 shares in the company, valued at approximately $76,938,895.44. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Procore Technologies Stock Up 0.3%

NYSE:PCOR traded up $0.20 during mid-day trading on Friday, reaching $66.54. The stock had a trading volume of 1,681,025 shares, compared to its average volume of 1,688,284. The stock has a 50-day simple moving average of $65.45 and a two-hundred day simple moving average of $71.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.19. 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. Procore Technologies had a negative return on equity of 6.54% and a negative net margin of 10.73%. The business had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same period last year, the firm posted $0.30 earnings per share. Procore Technologies's revenue was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group reduced their price objective on Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler decreased their price objective on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Arete initiated coverage on Procore Technologies in a research report on Monday. They set a "buy" rating and a $91.00 price objective on the stock. Scotiabank decreased their price target on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Finally, KeyCorp dropped their price objective on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and an average target price of $80.83.

Institutional Investors Weigh In On Procore Technologies

Hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC lifted its stake in Procore Technologies by 3.0% in the 1st quarter. Voya Investment Management LLC now owns 451,441 shares of the company's stock valued at $29,804,000 after purchasing an additional 12,963 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Procore Technologies by 9.6% during the 1st quarter. Rhumbline Advisers now owns 154,541 shares of the company's stock valued at $10,203,000 after acquiring an additional 13,534 shares in the last quarter. Ellsworth Advisors LLC grew its position in Procore Technologies by 6.5% during the 1st quarter. Ellsworth Advisors LLC now owns 8,900 shares of the company's stock worth $588,000 after acquiring an additional 545 shares during the last quarter. Advisors Capital Management LLC increased its holdings in Procore Technologies by 8.1% in the 1st quarter. Advisors Capital Management LLC now owns 155,369 shares of the company's stock worth $10,257,000 after purchasing an additional 11,590 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Procore Technologies by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company's stock valued at $23,156,000 after purchasing an additional 52,507 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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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