Iconiq Strategic Partners Ii, Sells 12,340 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $71.04, for a total transaction of $876,633.60. Following the completion of the transaction, the insider now directly owns 2,284,989 shares of the company’s stock, valued at approximately $162,325,618.56. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Procore Technologies Price Performance

Shares of PCOR stock opened at $69.15 on Friday. The company has a market capitalization of $10.28 billion, a P/E ratio of -138.30 and a beta of 0.71. The company’s 50-day simple moving average is $62.53 and its two-hundred day simple moving average is $63.85. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PCOR shares. The Goldman Sachs Group dropped their price objective on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. BMO Capital Markets reduced their price objective on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus lowered their price objective on Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. TD Cowen boosted their target price on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, DA Davidson restated a “neutral” rating and issued a $60.00 price target on shares of Procore Technologies in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.94.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors have recently made changes to their positions in PCOR. GAMMA Investing LLC lifted its stake in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies in the 3rd quarter valued at about $26,000. Signaturefd LLC lifted its position in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the period. Rothschild Investment LLC bought a new position in shares of Procore Technologies during the second quarter valued at approximately $51,000. Finally, International Assets Investment Management LLC increased its holdings in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares during the period. Hedge funds and other 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.