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

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 7,692 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.34, for a total transaction of $502,595.28. Following the completion of the transaction, the director now owns 1,177,516 shares in the company, valued at $76,938,895.44. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Procore Technologies Stock Performance

NYSE:PCOR opened at $66.54 on Friday. The firm’s fifty day moving average price is $65.57 and its 200 day moving average price is $71.57. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of -77.37 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same period last year, the firm posted $0.30 EPS. Procore Technologies’s quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group decreased their price objective on Procore Technologies from $110.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Barclays increased 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. Piper Sandler decreased their price objective on Procore Technologies from $110.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. KeyCorp decreased their price objective on Procore Technologies from $96.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Finally, Stifel Nicolaus decreased their price objective on Procore Technologies from $93.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and an average target price of $80.83.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its position in shares of Procore Technologies by 18.8% during the 4th quarter. US Bancorp DE now owns 21,416 shares of the company’s stock worth $1,605,000 after purchasing an additional 3,390 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Procore Technologies during the 4th quarter worth $20,729,000. SBI Securities Co. Ltd. purchased a new stake in shares of Procore Technologies during the 4th quarter worth $56,000. Brighton Jones LLC purchased a new stake in shares of Procore Technologies during the 4th quarter worth $511,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Procore Technologies during the 4th quarter worth $1,058,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.