Procore Technologies (NYSE:PCOR) Director Sells $94,500.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Elisa Steele sold 1,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $63.00, for a total transaction of $94,500.00. Following the completion of the transaction, the director directly owned 58,371 shares of the company’s stock, valued at approximately $3,677,373. The trade was a 2.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Up 0.1%

PCOR traded up $0.09 on Thursday, hitting $63.01. The company had a trading volume of 3,176,069 shares, compared to its average volume of 2,809,479. The company has a market cap of $9.57 billion, a PE ratio of -242.35 and a beta of 0.70. Procore Technologies, Inc. has a 12-month low of $38.03 and a 12-month high of $82.32. The business’s fifty day simple moving average is $47.34 and its 200 day simple moving average is $51.05.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. The company had revenue of $375.21 million for the quarter, compared to analysts’ expectations of $365.82 million. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, analysts anticipate that Procore Technologies, Inc. will post 0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCOR. Barclays increased their price target on Procore Technologies from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Citigroup reiterated a “market outperform” rating on shares of Procore Technologies in a research report on Tuesday, July 21st. Citizens Jmp upgraded shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price objective on the stock in a research report on Wednesday, April 29th. Piper Sandler reduced their target price on shares of Procore Technologies from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, BTIG Research restated a “buy” rating and issued a $66.00 target price on shares of Procore Technologies in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two 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 $70.44.

Institutional Investors Weigh In On Procore Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Owl Capital Holdings LP bought a new position in shares of Procore Technologies in the fourth quarter worth about $6,857,000. Stephens Investment Management Group LLC lifted its holdings in Procore Technologies by 23.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 543,159 shares of the company’s stock valued at $30,960,000 after buying an additional 102,574 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Procore Technologies by 105.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 45,802 shares of the company’s stock valued at $3,332,000 after buying an additional 23,555 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Procore Technologies in the 1st quarter valued at about $3,181,000. Finally, Deutsche Bank AG bought a new position in Procore Technologies in the 2nd quarter worth about $114,444,000. 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.