Procore Technologies, Inc. (NYSE:PCOR) Major Shareholder Iconiq Strategic Partners Ii, Sells 1,074 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the transaction, the insider now owns 200 shares of the company’s stock, valued at $17,480. This represents a 84.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $82.28 on Friday. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The company has a fifty day moving average of $78.09 and a 200-day moving average of $69.37. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Equities analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PCOR. Diversified Trust Co increased its stake in shares of Procore Technologies by 157.1% in the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock worth $3,795,000 after acquiring an additional 30,948 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Procore Technologies by 39.2% in the third quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock worth $59,635,000 after buying an additional 272,030 shares during the last quarter. Barclays PLC raised its holdings in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock worth $4,259,000 after buying an additional 22,734 shares during the last quarter. Advantage Alpha Capital Partners LP raised its holdings in Procore Technologies by 30.2% in the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock worth $7,825,000 after buying an additional 29,431 shares during the last quarter. Finally, Pathstone Holdings LLC raised its holdings in Procore Technologies by 804.3% in the third quarter. Pathstone Holdings LLC now owns 145,802 shares of the company’s stock worth $8,999,000 after buying an additional 129,679 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PCOR has been the topic of several analyst reports. Scotiabank boosted their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a report on Friday, November 22nd. DA Davidson boosted their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus boosted their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Mizuho boosted their target price on shares of Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, TD Cowen boosted their target price on shares of Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.94.

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.