William Fred Fleming, Jr. Sells 15,000 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) SVP William Fred Fleming, Jr. sold 15,000 shares of Procore Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total value of $1,061,250.00. Following the sale, the senior vice president now directly owns 75,120 shares in the company, valued at approximately $5,314,740. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Procore Technologies Stock Performance

Procore Technologies stock opened at $70.46 on Friday. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $83.35. The stock has a 50-day simple moving average of $61.04 and a 200 day simple moving average of $63.77. 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 stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of -140.92 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, research analysts anticipate that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Procore Technologies from $63.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Robert W. Baird initiated coverage on shares of Procore Technologies in a report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 price target on the stock. Jefferies Financial Group raised their price objective on shares of Procore Technologies from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 29th. BMO Capital Markets lowered their target price on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, TD Cowen raised their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Five research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $69.94.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Procore Technologies by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock valued at $764,111,000 after acquiring an additional 94,190 shares during the period. XN LP raised its holdings in Procore Technologies by 101.1% during the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after purchasing an additional 1,411,812 shares during the last quarter. Dragoneer Investment Group LLC lifted its position in Procore Technologies by 254.0% during 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. Assenagon Asset Management S.A. bought a new position in shares of Procore Technologies in the 3rd quarter valued at about $88,572,000. Finally, Robeco Schweiz AG grew its position in shares of Procore Technologies by 20.1% during the 2nd quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock worth $87,198,000 after buying an additional 220,000 shares during the period. 81.10% of the stock is currently owned by 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.