Procore Technologies (NYSE:PCOR) Insider Benjamin Singer Sells 3,942 Shares

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 3,942 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $50.00, for a total value of $197,100.00. Following the sale, the insider owned 96,723 shares of the company’s stock, valued at approximately $4,836,150. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Performance

PCOR opened at $52.71 on Wednesday. The company has a market cap of $7.95 billion, a PE ratio of -103.35 and a beta of 0.73. The stock has a 50-day moving average of $52.74 and a 200-day moving average of $61.02. Procore Technologies, Inc. has a 52-week low of $45.02 and a 52-week high of $82.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.12 and a current ratio of 1.12.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.The company had revenue of $359.28 million for the quarter, compared to the consensus estimate of $352.82 million. During the same quarter last year, the company posted $0.23 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that Procore Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

Several large investors have recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. raised its holdings in shares of Procore Technologies by 7,100.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock worth $25,000 after buying an additional 426 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Procore Technologies in the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp raised its holdings in shares of Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after buying an additional 199 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Procore Technologies in the 4th quarter worth approximately $41,000. Finally, Allworth Financial LP raised its holdings in shares of Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

PCOR has been the subject of several research analyst reports. UBS Group cut their price objective on Procore Technologies from $74.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. BTIG Research reissued a “buy” rating and set a $66.00 price objective on shares of Procore Technologies in a research report on Wednesday, May 6th. Wall Street Zen cut Procore Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. BMO Capital Markets cut their price objective on Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Finally, Stifel Nicolaus cut their price objective on Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $72.56.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.