Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Insider Sells 1,500 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the transaction, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. This trade represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Procore Technologies Trading Up 0.1 %

NYSE:PCOR opened at $77.90 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $86.67. The stock’s 50 day moving average price is $73.63 and its 200 day moving average price is $65.96. The company has a market capitalization of $11.58 billion, a PE ratio of -155.80 and a beta of 0.82.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The business had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. On average, research analysts anticipate that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC boosted its stake in shares of Procore Technologies by 254.0% during the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after buying an additional 1,609,607 shares during the period. Wasatch Advisors LP raised its stake in Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after acquiring an additional 1,575,534 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Procore Technologies during the 3rd quarter worth approximately $88,572,000. XN LP grew its stake in shares of Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after purchasing an additional 1,411,812 shares during the last quarter. Finally, PointState Capital LP acquired a new position in shares of Procore Technologies in the third quarter valued at approximately $81,306,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCOR has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Robert W. Baird increased their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. The Goldman Sachs Group raised their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. TD Cowen boosted their target price on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus raised their price target on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.24.

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.