Connor Kevin J. O Sells 7,692 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 7,692 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $72.16, for a total transaction of $555,054.72. Following the completion of the sale, the director now directly owns 1,192,900 shares in the company, valued at approximately $86,079,664. This represents a 0.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Procore Technologies Stock Down 0.5%

Shares of Procore Technologies stock opened at $71.08 on Monday. 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, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The firm’s 50-day moving average is $64.88 and its two-hundred day moving average is $72.73. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of -98.72 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $310.63 million for the quarter, compared to analysts’ expectations of $302.66 million. During the same period in the prior year, the business earned $0.30 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCOR. Parkside Financial Bank & Trust grew its holdings in Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 147 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Procore Technologies by 277.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock valued at $35,000 after buying an additional 385 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after buying an additional 162 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after buying an additional 404 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Procore Technologies in the 1st quarter valued at about $49,000. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCOR has been the topic of several recent analyst reports. Barclays increased their target price on shares of Procore Technologies from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets reduced their target price on shares of Procore Technologies from $95.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. UBS Group reduced their price target on shares of Procore Technologies from $110.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, JMP Securities raised their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.24.

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.