Connor Kevin O Sells 7,692 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 7,692 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $54.98, for a total value of $422,906.16. Following the completion of the transaction, the director directly owned 939,054 shares in the company, valued at approximately $51,629,188.92. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Procore Technologies Stock Performance

Procore Technologies stock opened at $55.63 on Friday. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of -213.96 and a beta of 0.70. Procore Technologies, Inc. has a 52-week low of $38.03 and a 52-week high of $82.32. The stock’s 50 day moving average price is $45.52 and its two-hundred day moving average price is $51.33.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The company had revenue of $375.21 million during the quarter, compared to analyst estimates of $365.82 million. During the same quarter in the previous year, the business posted $0.35 EPS. Procore Technologies’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, equities research analysts forecast that Procore Technologies, Inc. will post 0.09 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Guggenheim started coverage on shares of Procore Technologies in a report on Thursday, July 23rd. They set a “buy” rating and a $68.00 price objective on the stock. UBS Group raised their target price on Procore Technologies from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Procore Technologies in a research report on Monday, July 6th. Barclays upped their price target on Procore Technologies from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Citigroup reiterated a “market outperform” rating on shares of Procore Technologies in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.44.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PCOR. SJS Investment Consulting Inc. raised its holdings in shares of Procore Technologies by 7,100.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock worth $25,000 after acquiring an additional 426 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Procore Technologies in the 3rd quarter valued at about $34,000. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the 4th quarter valued at about $41,000. Allworth Financial LP boosted its stake in Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after purchasing an additional 204 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in Procore Technologies during the 2nd quarter worth approximately $52,000. 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.