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

Procore Technologies logo with Computer and Technology background

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 that occurred on Wednesday, July 9th. The shares were sold at an average price of $72.84, for a total value of $560,285.28. Following the transaction, the director owned 1,162,132 shares of the company's stock, valued at approximately $84,649,694.88. This represents a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Procore Technologies Stock Performance

PCOR traded down $1.34 during mid-day trading on Friday, reaching $71.59. 1,398,213 shares of the company traded hands, compared to its average volume of 1,665,029. The company's fifty day moving average price is $68.13 and its 200-day moving average price is $70.62. The stock has a market capitalization of $10.68 billion, a P/E ratio of -83.24 and a beta of 0.89. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $302.66 million. During the same period last year, the firm posted $0.30 earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PCOR. Piper Sandler decreased their price objective on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Scotiabank decreased their price target on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. BMO Capital Markets lowered their price objective on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. UBS Group cut their price objective on Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. decreased their target price on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.83.

View Our Latest Stock Analysis on Procore Technologies

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Cooper Investors PTY Ltd. purchased a new position in Procore Technologies during the second quarter valued at approximately $5,030,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Procore Technologies by 13.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,759 shares of the company's stock valued at $640,000 after purchasing an additional 1,057 shares during the last quarter. First Bank & Trust grew its position in shares of Procore Technologies by 7.3% during the second quarter. First Bank & Trust now owns 6,293 shares of the company's stock valued at $431,000 after purchasing an additional 427 shares in the last quarter. Canandaigua National Trust Co of Florida purchased a new position in shares of Procore Technologies during the second quarter valued at about $231,000. Finally, Parallel Advisors LLC increased its holdings in shares of Procore Technologies by 7.1% in the second quarter. Parallel Advisors LLC now owns 6,643 shares of the company's stock worth $455,000 after purchasing an additional 440 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

About Procore Technologies

(Get Free Report)

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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Insider Buying and Selling by Quarter for Procore Technologies (NYSE:PCOR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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