Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells 6,410 Shares of Stock

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

Procore Technologies Stock Up 0.5 %

PCOR stock traded up $0.41 on Thursday, reaching $81.59. 1,506,103 shares of the company traded hands, compared to its average volume of 1,652,338. The firm has a fifty day simple moving average of $70.43 and a 200-day simple moving average of $65.24. The company has a market cap of $12.13 billion, a P/E ratio of -163.17 and a beta of 0.82. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $86.67. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Research analysts anticipate that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Dragoneer Investment Group LLC grew its holdings in shares of Procore Technologies by 254.0% during the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after buying an additional 1,609,607 shares during the last quarter. Wasatch Advisors LP lifted its position in Procore Technologies by 27,239.5% in the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after acquiring an additional 1,575,534 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Procore Technologies during the 3rd quarter valued at $88,572,000. XN LP increased its holdings in shares of Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after purchasing an additional 1,411,812 shares in the last quarter. Finally, PointState Capital LP purchased a new position in shares of Procore Technologies in the third quarter worth $81,306,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. KeyCorp raised their price objective on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. BMO Capital Markets boosted their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group increased their target price on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Baird R W raised shares of Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Stifel Nicolaus raised their price objective on Procore Technologies from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.41.

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.