Procore Technologies, Inc. (NYSE:PCOR) Director William J.G. Griffith Sells 309,168 Shares

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Director William J.G. Griffith sold 309,168 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $64.76, for a total transaction of $20,021,719.68. Following the sale, the director now directly owns 1,893,458 shares of the company's stock, valued at $122,620,340.08. This trade represents a 14.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Procore Technologies Trading Down 0.6%

Shares of PCOR stock traded down $0.39 during mid-day trading on Wednesday, hitting $66.29. 844,910 shares of the company's stock were exchanged, compared to its average volume of 1,688,105. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The stock has a 50-day simple moving average of $65.34 and a two-hundred day simple moving average of $71.78. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of -77.09 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $310.63 million for the quarter, compared to analysts' expectations of $302.66 million. During the same quarter last year, the firm earned $0.30 earnings per share. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PCOR has been the topic of several research analyst reports. KeyCorp decreased their price target on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. BMO Capital Markets dropped their target price on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Arete initiated coverage on Procore Technologies in a report on Monday. They set a "buy" rating and a $91.00 price objective for the company. Jefferies Financial Group reduced their target price on Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, DA Davidson upgraded Procore Technologies to a "hold" rating in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.83.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of PCOR. Parkside Financial Bank & Trust lifted its holdings in Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after acquiring an additional 147 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock valued at $35,000 after buying an additional 385 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after buying an additional 162 shares during the last quarter. Huntington National Bank raised its holdings in shares of Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after buying an additional 404 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Procore Technologies during the first quarter valued at approximately $49,000. 81.10% of the stock is currently owned by hedge funds and other 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.