Procore Technologies (NYSE:PCOR) SVP William Fred Fleming, Jr. Sells 16,852 Shares of Company Stock

Procore Technologies, Inc. (NYSE:PCOR) SVP William Fred Fleming, Jr. sold 16,852 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $76.57, for a total transaction of $1,290,357.64. Following the completion of the transaction, the senior vice president owned 91,049 shares of the company’s stock, valued at approximately $6,971,621.93. This represents a 15.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Procore Technologies Price Performance

NYSE:PCOR opened at $77.28 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.17 and a current ratio of 1.06. The company has a 50-day moving average of $58.74 and a 200-day moving average of $53.74. Procore Technologies, Inc. has a 52 week low of $38.03 and a 52 week high of $79.80. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of -336.00 and a beta of 0.75.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Tuesday, November 3rd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. Procore Technologies had a negative net margin of 2.31% and a positive return on equity of 2.67%. The business had revenue of $402.31 million for the quarter, compared to analysts’ expectations of $384.38 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, equities research analysts anticipate that Procore Technologies, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TD Cowen lifted their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a report on Monday, November 2nd. UBS Group increased their target price on Procore Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Cantor Fitzgerald raised their target price on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. DA Davidson set a $56.00 price target on Procore Technologies in a research note on Monday, September 28th. Finally, The Goldman Sachs Group upped their price target on Procore Technologies from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Eighteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $80.35.

Hedge Funds Weigh In On Procore Technologies

Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in shares of Procore Technologies in the third quarter valued at $316,000. GW&K Investment Management LLC grew its holdings in Procore Technologies by 2.8% during the 3rd quarter. GW&K Investment Management LLC now owns 1,073,192 shares of the company’s stock worth $55,506,000 after acquiring an additional 29,602 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in Procore Technologies by 5.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 911,063 shares of the company’s stock worth $47,120,000 after acquiring an additional 47,472 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Procore Technologies by 28.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,657 shares of the company’s stock worth $86,000 after acquiring an additional 368 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new stake in Procore Technologies in the 3rd quarter valued at about $4,850,000. 81.10% of the stock is owned by institutional investors.

Procore Technologies Company Profile

Procore Technologies provides cloud-based construction management software designed to help construction companies plan, manage and execute projects. Its platform connects project teams and stakeholders, including owners, general contractors, specialty contractors and design professionals. Procore’s products support project management, construction financials, workforce coordination, quality and safety processes, and project data and analytics. The platform also offers integrations with third-party applications to help customers connect construction workflows and business systems.