Procore Technologies, Inc. (NYSE:PCOR) Major Shareholder Sells $93,867.60 in Stock

Procore Technologies, Inc. (NYSE:PCOR) major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now directly owns 200 shares in the company, valued at $17,480. The trade was a 84.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Procore Technologies Stock Down 0.9 %

Shares of PCOR opened at $82.28 on Monday. The firm has a market cap of $12.23 billion, a P/E ratio of -114.27 and a beta of 0.84. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The company’s 50-day moving average price is $78.09 and its 200 day moving average price is $69.61. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million during the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PCOR shares. Scotiabank raised their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. The Goldman Sachs Group lifted their target price on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. KeyCorp lifted their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Robert W. Baird lifted their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.94.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors have recently bought and sold shares of PCOR. Creative Planning acquired a new position in Procore Technologies in the 3rd quarter valued at about $234,000. Raymond James & Associates grew its position in Procore Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 47,982 shares of the company’s stock valued at $2,961,000 after acquiring an additional 1,386 shares in the last quarter. International Assets Investment Management LLC grew its position in Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares in the last quarter. Tanager Wealth Management LLP grew its position in Procore Technologies by 1.3% in the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock valued at $787,000 after acquiring an additional 168 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Procore Technologies in the 3rd quarter valued at about $88,572,000. 81.10% of the stock is owned by institutional investors and hedge funds.

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.