Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) SVP Sells 2,668 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) SVP William Fred Fleming, Jr. sold 2,668 shares of Procore Technologies stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $190,388.48. Following the transaction, the senior vice president now directly owns 72,605 shares of the company’s stock, valued at approximately $5,181,092.80. This trade represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Procore Technologies Trading Up 1.9 %

NYSE PCOR opened at $76.68 on Monday. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $83.35. 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 firm’s fifty day moving average price is $64.19 and its two-hundred day moving average price is $63.92.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on PCOR. JPMorgan Chase & Co. lifted their target price on shares of Procore Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday. DA Davidson upped their target price on Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday. Robert W. Baird began coverage on Procore Technologies in a research note on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price on the stock. Stifel Nicolaus upped their price objective on Procore Technologies from $70.00 to $84.00 and gave the company a “buy” rating in a report on Friday. Finally, Scotiabank increased their price objective on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PCOR. CIBC Asset Management Inc grew its holdings in Procore Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after acquiring an additional 143 shares during the last quarter. Tanager Wealth Management LLP lifted its holdings in shares of Procore Technologies by 1.2% during the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC grew its stake in shares of Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares during the last quarter. Taylor Frigon Capital Management LLC increased its holdings in Procore Technologies by 0.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock valued at $3,570,000 after purchasing an additional 180 shares during the period. Finally, Signaturefd LLC raised its position in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.