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

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 transaction of $4,460,120.00. Following the completion of the transaction, the chief executive officer now directly owns 527,349 shares of the company’s stock, valued at approximately $34,588,820.91. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $68.87 on Friday. The firm has a market cap of $10.08 billion, a PE ratio of -71.74 and a beta of 0.75. The firm’s 50 day simple moving average is $67.16 and its 200-day simple moving average is $71.45. 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 quick ratio of 1.60 and a current ratio of 1.61.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, May 1st. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The business had revenue of $269.43 million for the quarter, compared to analyst estimates of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. As a group, equities analysts predict that Procore Technologies, Inc. will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Canaccord Genuity Group lowered their price target on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Mizuho reissued a “neutral” rating and issued a $70.00 price objective (down from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th. Barclays reduced their price objective on shares of Procore Technologies from $83.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Macquarie started coverage on shares of Procore Technologies in a research report on Wednesday, June 5th. They issued a “neutral” rating and a $70.00 price objective on the stock. Finally, TD Cowen started coverage on shares of Procore Technologies in a research report on Wednesday, June 12th. They issued a “buy” rating and a $85.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.19.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors have recently bought and sold shares of the business. Ellsworth Advisors LLC increased its holdings in Procore Technologies by 3.0% during the fourth quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock valued at $408,000 after buying an additional 170 shares during the period. Advisors Asset Management Inc. increased its holdings in Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after buying an additional 260 shares during the period. Fifth Third Bancorp increased its holdings in Procore Technologies by 3.8% during the first quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock valued at $589,000 after buying an additional 263 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after buying an additional 297 shares during the period. Finally, Covestor Ltd increased its holdings in Procore Technologies by 29.3% during the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after buying an additional 300 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.