William Fred Fleming, Jr. Sells 22,000 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) SVP William Fred Fleming, Jr. sold 22,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $78.77, for a total transaction of $1,732,940.00. Following the completion of the transaction, the senior vice president directly owned 63,309 shares of the company’s stock, valued at $4,986,849.93. This trade represents a 25.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Procore Technologies Trading Down 3.5%

Shares of Procore Technologies stock opened at $75.32 on Friday. The firm’s 50 day moving average is $72.94 and its 200 day moving average is $69.84. The firm has a market capitalization of $11.71 billion, a PE ratio of -89.66 and a beta of 0.90. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PCOR. Mizuho upped their target price on Procore Technologies from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. JMP Securities restated a “market perform” rating and set a $95.00 price target on shares of Procore Technologies in a report on Friday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a report on Wednesday, October 8th. Stifel Nicolaus lifted their target price on shares of Procore Technologies from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Fifteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.26.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Procore Technologies by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,353,586 shares of the company’s stock valued at $900,823,000 after purchasing an additional 718,663 shares during the last quarter. Wasatch Advisors LP boosted its position in Procore Technologies by 58.4% during the second quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company’s stock valued at $318,592,000 after acquiring an additional 1,717,492 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings 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 acquiring an additional 1,750,998 shares during the period. Principal Financial Group Inc. grew its holdings in Procore Technologies by 12.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,301,569 shares of the company’s stock worth $240,753,000 after acquiring an additional 360,207 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Procore Technologies by 0.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,282,582 shares of the company’s stock worth $224,594,000 after acquiring an additional 23,038 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

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.