Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Director Sells $2,730,890.76 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 33,332 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total value of $2,730,890.76. Following the completion of the sale, the director now owns 1,282,648 shares in the company, valued at $105,087,350.64. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $78.82 on Friday. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $86.67. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $70.80 and a two-hundred day moving average of $65.29. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of -157.64 and a beta of 0.82.

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

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently modified their holdings of PCOR. XN LP lifted its holdings in shares of Procore Technologies by 101.1% during the second 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. Meritage Group LP raised its holdings in Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after buying an additional 1,098,019 shares during the period. Janus Henderson Group PLC lifted its stake in Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after buying an additional 1,297,151 shares in the last quarter. Dragoneer Investment Group LLC boosted its holdings in shares of Procore Technologies by 254.0% in 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. Finally, Holocene Advisors LP increased its position in shares of Procore Technologies by 1.1% in the third quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock worth $115,623,000 after acquiring an additional 21,234 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PCOR shares. KeyCorp lifted their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Scotiabank lifted their price target on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. BMO Capital Markets boosted their price objective on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. TD Cowen raised their target price on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.71.

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.