Procore Technologies (NYSE:PCOR) Director Connor Kevin O Sells 5,769 Shares

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,769 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $42.00, for a total transaction of $242,298.00. Following the transaction, the director owned 973,670 shares in the company, valued at approximately $40,894,140. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Down 4.0%

Shares of PCOR traded down $1.68 during mid-day trading on Wednesday, hitting $40.14. 4,177,579 shares of the company’s stock were exchanged, compared to its average volume of 2,250,427. The firm has a fifty day moving average of $50.01 and a two-hundred day moving average of $58.68. Procore Technologies, Inc. has a twelve month low of $40.04 and a twelve month high of $82.32. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -78.70 and a beta of 0.73. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 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 business had revenue of $359.28 million for the quarter, compared to analyst estimates of $352.82 million. During the same quarter last year, the company earned $0.23 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, sell-side analysts forecast that Procore Technologies, Inc. will post 0.06 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Zacks Research upgraded shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Piper Sandler decreased their price objective on shares of Procore Technologies from $79.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. TD Cowen decreased their price objective on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. BTIG Research reaffirmed a “buy” rating and set a $66.00 price objective on shares of Procore Technologies in a report on Wednesday, May 6th. Finally, UBS Group decreased their price objective on shares of Procore Technologies from $74.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Institutional Trading of Procore Technologies

Several large investors have recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Procore Technologies during the 1st quarter worth $563,000. Caerus Investment Advisors LLC bought a new stake in shares of Procore Technologies during the 1st quarter worth $234,000. Segall Bryant & Hamill LLC boosted its holdings in Procore Technologies by 4.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 500,152 shares of the company’s stock valued at $28,509,000 after purchasing an additional 21,266 shares during the period. Essential Partners LLC grew its position in Procore Technologies by 1,585.4% in the 1st quarter. Essential Partners LLC now owns 3,236 shares of the company’s stock worth $184,000 after purchasing an additional 3,044 shares during the last quarter. Finally, Ariadne Wealth Management LP acquired a new stake in Procore Technologies in the 1st quarter worth $309,000. 81.10% of the stock is owned by institutional investors.

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.