Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Insider Sells $628,615.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Steven Scott Davis sold 9,671 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $65.00, for a total value of $628,615.00. Following the completion of the transaction, the insider now directly owns 192,137 shares in the company, valued at approximately $12,488,905. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Procore Technologies Stock Up 6.4 %

Shares of PCOR stock opened at $71.38 on Thursday. The stock’s fifty day moving average price is $60.33 and its 200 day moving average price is $63.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $83.35. The company has a market cap of $10.61 billion, a price-to-earnings ratio of -142.76 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, research analysts expect that Procore Technologies, Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PCOR. GAMMA Investing LLC grew its holdings in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after buying an additional 175 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Procore Technologies during the 3rd quarter valued at about $26,000. Signaturefd LLC increased its holdings in shares of Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares during the period. International Assets Investment Management LLC raised its stake in shares of Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after purchasing an additional 789 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Procore Technologies during the second quarter worth about $51,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PCOR. BMO Capital Markets dropped their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird initiated coverage on shares of Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a report on Friday, August 2nd. TD Cowen increased their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.94.

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.