Procore Technologies (NYSE:PCOR) Director William J.G. Griffith Sells 207,474 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) Director William J.G. Griffith sold 207,474 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $72.30, for a total value of $15,000,370.20. Following the completion of the sale, the director owned 3,244,546 shares of the company’s stock, valued at approximately $234,580,675.80. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Procore Technologies Stock Performance

Procore Technologies stock opened at $73.43 on Thursday. Procore Technologies, Inc. has a 12-month low of $53.71 and a 12-month high of $88.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of -87.41 and a beta of 0.90. The firm’s fifty day moving average price is $74.14 and its 200 day moving average price is $71.03.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The business 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%. On average, research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AIA Group Ltd acquired a new stake in Procore Technologies in the third quarter worth $1,478,000. Swiss Life Asset Management Ltd raised its holdings in shares of Procore Technologies by 70.7% during the third quarter. Swiss Life Asset Management Ltd now owns 5,006 shares of the company’s stock valued at $365,000 after buying an additional 2,073 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Procore Technologies during the third quarter worth approximately $18,962,000. Wilmington Savings Fund Society FSB bought a new position in Procore Technologies in the 3rd quarter worth approximately $34,000. Finally, Coldstream Capital Management Inc. grew its holdings in Procore Technologies by 42.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,937 shares of the company’s stock worth $433,000 after buying an additional 1,757 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BTIG Research reiterated a “buy” rating and set a $88.00 price objective on shares of Procore Technologies in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. Robert W. Baird increased their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, William Blair restated an “outperform” rating on shares of Procore Technologies in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.67.

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.