Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Insider Sells 3,000 Shares of Stock

Procore Technologies, Inc. (NYSE:PCORGet Free Report) insider Benjamin C. Singer sold 3,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.15, for a total transaction of $246,450.00. Following the sale, the insider now directly owns 125,321 shares of the company’s stock, valued at approximately $10,295,120.15. The sale was disclosed in a filing with the SEC, which is available at this link.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $78.05 on Thursday. The firm’s 50 day moving average price is $76.59 and its 200-day moving average price is $67.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49. Procore Technologies, Inc. has a one year low of $48.11 and a one year high of $83.35. The firm has a market cap of $11.20 billion, a P/E ratio of -58.68 and a beta of 0.71.

Procore Technologies (NYSE:PCORGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13. The firm had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Procore Technologies had a negative net margin of 19.97% and a negative return on equity of 12.26%. As a group, equities research analysts predict that Procore Technologies, Inc. will post -0.64 EPS for the current year.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in Procore Technologies by 8.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,908,997 shares of the company’s stock worth $620,601,000 after buying an additional 734,057 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Procore Technologies by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 9,204,957 shares of the company’s stock worth $637,167,000 after buying an additional 666,287 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Procore Technologies by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,744,726 shares of the company’s stock worth $309,926,000 after buying an additional 114,649 shares in the last quarter. Cadian Capital Management LP lifted its holdings in Procore Technologies by 22.9% during the 4th quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock worth $257,384,000 after buying an additional 692,218 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Procore Technologies by 17.3% during the 2nd quarter. BlackRock Inc. now owns 3,576,438 shares of the company’s stock worth $232,719,000 after buying an additional 527,268 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PCOR shares. BMO Capital Markets upped their price objective on shares of Procore Technologies from $76.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Stifel Nicolaus upped their price objective on shares of Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their target price on shares of Procore Technologies from $76.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Piper Sandler boosted their target price on shares of Procore Technologies from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.86.

Check Out Our Latest Analysis on PCOR

About Procore Technologies

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Procore Technologies (NYSE:PCOR)

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