Insider Selling: Procore Technologies (NYSE:PCOR) Insider Sells $197,100.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin Singer sold 3,942 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $50.00, for a total value of $197,100.00. Following the sale, the insider owned 96,723 shares in the company, valued at approximately $4,836,150. This trade represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Trading Down 0.0%

PCOR opened at $50.63 on Friday. Procore Technologies, Inc. has a one year low of $45.02 and a one year high of $82.32. The company has a market cap of $7.64 billion, a P/E ratio of -99.28 and a beta of 0.73. 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 business’s 50-day simple moving average is $52.35 and its 200-day simple moving average is $60.50.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 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 business had revenue of $359.28 million during the quarter, compared to analysts’ expectations of $352.82 million. During the same quarter in the previous year, the company posted $0.23 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts expect that Procore Technologies, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Canaccord Genuity Group dropped their price objective on Procore Technologies from $90.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Citizens Jmp upgraded Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price objective on the stock in a report on Wednesday, April 29th. Zacks Research upgraded Procore Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. TD Cowen dropped their price objective on Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Finally, Piper Sandler dropped their price objective on Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Fifteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $72.56.

Institutional Trading of Procore Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Caerus Investment Advisors LLC acquired a new stake in Procore Technologies during the 1st quarter worth approximately $234,000. Segall Bryant & Hamill LLC lifted its position in Procore Technologies by 4.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 500,152 shares of the company’s stock worth $28,509,000 after acquiring an additional 21,266 shares during the period. Essential Partners LLC lifted its holdings in shares of Procore Technologies by 1,585.4% in the 1st quarter. Essential Partners LLC now owns 3,236 shares of the company’s stock valued at $184,000 after buying an additional 3,044 shares during the period. Ariadne Wealth Management LP acquired a new stake in shares of Procore Technologies in the 1st quarter valued at approximately $309,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Procore Technologies by 11.0% in the 1st quarter. Janus Henderson Group PLC now owns 947,990 shares of the company’s stock valued at $54,034,000 after buying an additional 94,274 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

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.