Benjamin Singer Sells 4,204 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 4,204 shares of Procore Technologies stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $69.21, for a total value of $290,958.84. Following the sale, the insider directly owned 75,676 shares in the company, valued at approximately $5,237,535.96. This trade represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Procore Technologies Trading Up 2.3%

Procore Technologies stock opened at $71.07 on Friday. The business has a 50 day moving average price of $73.22 and a two-hundred day moving average price of $70.22. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 12 month low of $53.71 and a 12 month high of $88.92. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of -84.61 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share for the quarter. The firm had revenue of $172.21 million for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%. As a group, equities analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Procore Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. boosted its stake in Procore Technologies by 493.9% in the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock worth $445,391,000 after purchasing an additional 5,079,534 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Procore Technologies by 76.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock worth $294,449,000 after buying an additional 1,750,998 shares in the last quarter. Wasatch Advisors LP lifted its position in Procore Technologies by 58.4% during the 2nd quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company’s stock worth $318,592,000 after buying an additional 1,717,492 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 1,492,869 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Procore Technologies by 77.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company’s stock valued at $248,066,000 after acquiring an additional 1,486,153 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PCOR shares. Stifel Nicolaus raised their price objective on shares of Procore Technologies from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Citizens Jmp cut shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st. JMP Securities reaffirmed a “market perform” rating and set a $95.00 price objective on shares of Procore Technologies in a report on Friday, August 1st. Wall Street Zen raised Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.47.

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.