Procore Technologies (NYSE:PCOR) Director Connor Kevin O Sells 5,769 Shares

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 5,769 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $42.00, for a total transaction of $242,298.00. Following the completion of the sale, the director owned 973,670 shares in the company, valued at $40,894,140. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Price Performance

Shares of NYSE:PCOR traded down $1.68 during midday trading on Wednesday, reaching $40.14. 4,177,579 shares of the company’s stock were exchanged, compared to its average volume of 2,250,427. The company’s 50 day simple moving average is $50.01 and its two-hundred day simple moving average is $58.68. The firm has a market capitalization of $6.06 billion, a PE ratio of -78.70 and a beta of 0.73. Procore Technologies, Inc. has a 12 month low of $40.04 and a 12 month high of $82.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.12 and a current ratio of 1.12.

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). The business had revenue of $359.28 million for the quarter, compared to the consensus estimate of $352.82 million. Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.Procore Technologies’s revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 earnings per share. Equities research analysts expect that Procore Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Cowen cut their price target on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. UBS Group lowered their price target on shares of Procore Technologies from $74.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Wall Street Zen cut shares of Procore Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, BTIG Research reiterated a “buy” rating and set a $66.00 price target on shares of Procore Technologies in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.33.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PCOR. Brighton Jones LLC acquired a new position in Procore Technologies during the fourth quarter valued at approximately $511,000. Goldman Sachs Group Inc. grew its holdings in Procore Technologies by 5.2% during the first quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company’s stock valued at $48,392,000 after purchasing an additional 36,426 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Procore Technologies by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company’s stock valued at $23,156,000 after purchasing an additional 52,507 shares during the period. Prudential Financial Inc. grew its holdings in Procore Technologies by 56.8% during the second quarter. Prudential Financial Inc. now owns 6,850 shares of the company’s stock valued at $471,000 after purchasing an additional 2,480 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Procore Technologies by 3.8% during the second quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company’s stock valued at $500,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.