Insider Selling: Procore Technologies (NYSE:PCOR) Director Sells $542,747.52 in Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 7,692 shares of the company’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $70.56, for a total transaction of $542,747.52. Following the completion of the sale, the director directly owned 1,115,637 shares in the company, valued at $78,719,346.72. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Procore Technologies Price Performance

PCOR opened at $69.89 on Friday. The company has a 50-day moving average of $69.78 and a 200-day moving average of $67.86. The company has a market capitalization of $10.50 billion, a P/E ratio of -72.80 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. The company had revenue of $172.21 million for the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%. Equities analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after buying an additional 385 shares during the period. SVB Wealth LLC acquired a new stake in Procore Technologies in the 1st quarter valued at approximately $49,000. Hilltop National Bank bought a new stake in Procore Technologies during the 2nd quarter valued at $62,000. Elevation Point Wealth Partners LLC acquired a new position in Procore Technologies during the 2nd quarter worth $68,000. Finally, Signaturefd LLC boosted its position in Procore Technologies by 53.4% during the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock worth $79,000 after acquiring an additional 419 shares during the period. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of research analyst reports. DA Davidson assumed coverage on Procore Technologies in a report on Monday, August 4th. They issued a “neutral” rating and a $70.00 price target for the company. Robert W. Baird boosted their target price on shares of Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Berenberg Bank started coverage on shares of Procore Technologies in a report on Friday, October 3rd. They set a “buy” rating and a $84.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a report on Wednesday, October 8th. Finally, Mizuho increased their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.11.

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.