Procore Technologies, Inc. (NYSE:PCOR) Insider Sells $117,000.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the insider now directly owns 83,039 shares in the company, valued at approximately $6,477,042. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $78.03 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $77.80 and a 200 day simple moving average of $67.58. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $86.67.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, equities analysts forecast that Procore Technologies, Inc. will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PCOR. UBS Group began coverage on shares of Procore Technologies in a research report on Monday, December 2nd. They set a “buy” rating and a $105.00 price target on the stock. Piper Sandler raised their price objective on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. DA Davidson raised their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus raised their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group lifted their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Institutional Trading of Procore Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after buying an additional 1,425,967 shares during the period. Meritage Group LP boosted its holdings in Procore Technologies by 66.6% in the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after purchasing an additional 1,098,019 shares during the period. Janus Henderson Group PLC boosted its holdings in Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after purchasing an additional 1,297,151 shares during the period. Dragoneer Investment Group LLC boosted its holdings in Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares during the period. Finally, Holocene Advisors LP boosted its holdings in Procore Technologies by 1.1% in the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock valued at $115,623,000 after purchasing an additional 21,234 shares during the period. 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.