Connor Kevin O Sells 5,775 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,775 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $42.92, for a total transaction of $247,863.00. Following the completion of the sale, the director directly owned 979,439 shares in the company, valued at $42,037,521.88. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Performance

NYSE:PCOR opened at $39.99 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $6.03 billion, a P/E ratio of -78.41 and a beta of 0.73. The company has a 50 day moving average price of $49.69 and a 200 day moving average price of $58.44. Procore Technologies, Inc. has a fifty-two week low of $38.71 and a fifty-two week high of $82.32.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.24%. The firm had revenue of $359.28 million during the quarter, compared to analysts’ expectations of $352.82 million. During the same period in the previous year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts forecast that Procore Technologies, Inc. will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Procore Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Argos Wealth Advisors LLC raised its holdings in Procore Technologies by 3.9% in the first quarter. Argos Wealth Advisors LLC now owns 5,154 shares of the company’s stock valued at $294,000 after acquiring an additional 195 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 199 shares during the last quarter. Intellectus Partners LLC grew its holdings in Procore Technologies by 1.6% during the 3rd quarter. Intellectus Partners LLC now owns 12,505 shares of the company’s stock worth $912,000 after acquiring an additional 200 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Procore Technologies by 1.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 14,685 shares of the company’s stock worth $1,068,000 after acquiring an additional 202 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after purchasing an additional 204 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler decreased their target price on Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and set a $66.00 price target on shares of Procore Technologies in a research note on Wednesday, May 6th. The Goldman Sachs Group cut their price target on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. TD Cowen lowered their price objective on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Finally, Citizens Jmp upgraded shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price objective for the company in a report on Wednesday, April 29th. Fourteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $71.33.

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. 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.