Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CRO Sells $163,325.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CRO Lawrence Joseph Stack sold 2,500 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $65.33, for a total value of $163,325.00. Following the sale, the executive now directly owns 208,288 shares of the company’s stock, valued at $13,607,455.04. The trade was a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Lawrence Joseph Stack also recently made the following trade(s):

• On Friday, May 9th, Lawrence Joseph Stack sold 1,000 shares of Procore Technologies stock. The stock was sold at an average price of $65.60, for a total value of $65,600.00.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $66.29 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $65.45 and its 200 day moving average price is $71.68. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of -77.09 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The business had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same period in the prior year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in shares of Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock worth $200,810,000 after acquiring an additional 2,670,872 shares during the last quarter. Capital World Investors increased its position in Procore Technologies by 453.6% during the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock worth $233,704,000 after purchasing an additional 2,555,612 shares in the last quarter. Wellington Management Group LLP acquired a new position in Procore Technologies in the 4th quarter valued at about $131,840,000. JPMorgan Chase & Co. boosted its stake in shares of Procore Technologies by 84.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company’s stock worth $215,195,000 after purchasing an additional 1,492,869 shares during the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in shares of Procore Technologies in the fourth quarter valued at approximately $105,747,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PCOR. KeyCorp cut their price objective on shares of Procore Technologies from $96.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Jefferies Financial Group cut their price target on shares of Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a report on Monday, March 31st. Barclays lifted their price objective on Procore Technologies from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. decreased their price target on Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, BMO Capital Markets decreased 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 report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.83.

About Procore Technologies

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.