Craig F. Jr. Courtemanche Sells 68,000 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche sold 68,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $65.59, for a total value of $4,460,120.00. Following the sale, the chief executive officer now owns 527,349 shares of the company’s stock, valued at $34,588,820.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Procore Technologies Stock Up 1.1 %

PCOR stock traded up $0.72 on Wednesday, reaching $68.70. 1,020,832 shares of the company traded hands, compared to its average volume of 1,322,178. Procore Technologies, Inc. has a one year low of $48.11 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The company has a market cap of $10.05 billion, a P/E ratio of -71.56 and a beta of 0.75. The firm has a fifty day simple moving average of $67.21 and a 200-day simple moving average of $71.46.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The company had revenue of $269.43 million during the quarter, compared to analyst estimates of $263.13 million. Research analysts anticipate that Procore Technologies, Inc. will post -0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCOR has been the subject of several analyst reports. Canaccord Genuity Group dropped their target price on Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. TD Cowen started coverage on Procore Technologies in a report on Wednesday, June 12th. They issued a “buy” rating and a $85.00 price objective for the company. Piper Sandler dropped their price objective on Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Barclays dropped their price objective on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Macquarie started coverage on Procore Technologies in a report on Wednesday, June 5th. They issued a “neutral” rating and a $70.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.19.

Institutional Trading of Procore Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Procore Technologies during the fourth quarter valued at $68,005,000. Artisan Partners Limited Partnership lifted its position in Procore Technologies by 81.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 652,985 shares of the company’s stock valued at $45,200,000 after purchasing an additional 293,613 shares in the last quarter. Eventide Asset Management LLC purchased a new position in Procore Technologies during the fourth quarter valued at $3,302,000. CHURCHILL MANAGEMENT Corp purchased a new position in Procore Technologies during the first quarter valued at $1,342,000. Finally, GW&K Investment Management LLC purchased a new position in Procore Technologies during the fourth quarter valued at $52,130,000. Institutional investors 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.