Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells $520,876.60 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.26, for a total value of $520,876.60. Following the completion of the sale, the director now directly owns 1,269,828 shares of the company’s stock, valued at $103,186,223.28. The trade was a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Procore Technologies Price Performance

PCOR opened at $78.82 on Friday. The firm has a 50-day moving average price of $70.80 and a 200-day moving average price of $65.29. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $86.67. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of -157.64 and a beta of 0.82.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Equities analysts expect that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Institutional Trading of Procore Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Westfield Capital Management Co. LP grew its holdings in Procore Technologies by 39.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock valued at $59,635,000 after buying an additional 272,030 shares in the last quarter. Advantage Alpha Capital Partners LP boosted its position in shares of Procore Technologies by 30.2% in the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock valued at $7,825,000 after acquiring an additional 29,431 shares during the period. Pathstone Holdings LLC boosted its position in shares of Procore Technologies by 804.3% in the third quarter. Pathstone Holdings LLC now owns 145,802 shares of the company’s stock valued at $8,999,000 after acquiring an additional 129,679 shares during the period. SG Americas Securities LLC grew its stake in Procore Technologies by 118.0% during the second quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock valued at $1,158,000 after acquiring an additional 9,454 shares in the last quarter. Finally, Long Path Partners LP increased its holdings in Procore Technologies by 5.8% during the 3rd quarter. Long Path Partners LP now owns 358,050 shares of the company’s stock worth $22,099,000 after acquiring an additional 19,547 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PCOR. Scotiabank increased their target price on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group upped their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. KeyCorp lifted their target price on shares of Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Barclays upped their target price on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.71.

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.