Connor Kevin J. O Sells 5,128 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $62.88, for a total value of $322,448.64. Following the transaction, the director now directly owns 1,345,464 shares in the company, valued at approximately $84,602,776.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Procore Technologies Stock Down 0.5 %

Shares of NYSE:PCOR opened at $62.80 on Friday. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of -65.42 and a beta of 0.73. The company has a 50 day moving average of $59.67 and a two-hundred day moving average of $64.29. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. The business had revenue of $284.30 million during the quarter, compared to analyst estimates of $275.26 million. During the same period last year, the business earned ($0.28) EPS. The business’s revenue was up 24.4% on a year-over-year basis. As a group, analysts forecast that Procore Technologies, Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PCOR. Vanguard Group Inc. lifted its holdings in Procore Technologies by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock worth $764,111,000 after buying an additional 94,190 shares during the last quarter. XN LP increased its holdings 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 acquiring an additional 1,411,812 shares during the last quarter. Dragoneer Investment Group LLC raised its holdings 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 purchasing an additional 1,609,607 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Procore Technologies during the third quarter worth about $88,572,000. Finally, Robeco Schweiz AG increased its position in Procore Technologies by 20.1% in the second quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock worth $87,198,000 after buying an additional 220,000 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCOR. Barclays increased their target price on Procore Technologies from $54.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. KeyCorp decreased their target price on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Scotiabank dropped their price target on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price target on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, DA Davidson reissued a “neutral” rating and set a $60.00 price objective on shares of Procore Technologies in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus target price of $70.13.

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.