Procore Technologies (NYSE:PCOR) Insider Sells $77,700.00 in Stock

Key Points

• Insider Sale: Procore Technologies insider Benjamin Singer sold 1,036 shares for $77,700, resulting in a 1.20% decrease in their ownership.
• Quarterly Earnings: The company reported earnings of $0.35 per share, surpassing analysts' expectations, with revenue up 13.9% year-over-year at $323.92 million.
• Analyst Ratings: Procore Technologies has received a consensus rating of "Moderate Buy" with a target price of $83.06, with several firms increasing their price targets.

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) insider Benjamin Singer sold 1,036 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $75.00, for a total transaction of $77,700.00. Following the sale, the insider owned 85,330 shares of the company's stock, valued at $6,399,750. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Procore Technologies Trading Down 1.7%

Procore Technologies stock traded down $1.29 during midday trading on Wednesday, reaching $72.65. The stock had a trading volume of 2,789,615 shares, compared to its average volume of 1,378,454. The firm's fifty day simple moving average is $69.17 and its two-hundred day simple moving average is $67.45. Procore Technologies, Inc. has a twelve month low of $53.71 and a twelve month high of $88.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of -75.68 and a beta of 0.90.

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

Analyst Ratings Changes

PCOR has been the subject of a number of recent analyst reports. Arete initiated coverage on shares of Procore Technologies in a research note on Monday, June 16th. They issued a "buy" rating and a $91.00 price objective for the company. BMO Capital Markets increased their target price on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. KeyCorp increased their target price on shares of Procore Technologies from $77.00 to $81.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Barclays increased their target price on shares of Procore Technologies from $72.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Finally, JMP Securities reiterated a "market perform" rating and issued a $95.00 target price on shares of Procore Technologies in a research report on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.06.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PCOR. Brighton Jones LLC bought a new position in Procore Technologies in the 4th quarter worth $511,000. Quantinno Capital Management LP bought a new position in Procore Technologies in the 4th quarter worth $231,000. Two Sigma Investments LP raised its holdings in Procore Technologies by 5.3% in the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company's stock worth $313,000 after acquiring an additional 210 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Procore Technologies by 15.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company's stock worth $22,347,000 after purchasing an additional 39,935 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Procore Technologies by 174.2% in the 1st quarter. Versant Capital Management Inc now owns 1,001 shares of the company's stock worth $66,000 after purchasing an additional 636 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

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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