Benjamin C. Singer Sells 6,937 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 6,937 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $83.60, for a total value of $579,933.20. Following the completion of the sale, the insider now owns 72,110 shares in the company, valued at $6,028,396. The trade was a 8.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Procore Technologies Stock Down 0.9 %

PCOR stock opened at $82.28 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $12.23 billion, a PE ratio of -114.27 and a beta of 0.84. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The business’s 50 day simple moving average is $78.09 and its 200 day simple moving average is $69.49.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Cache Advisors LLC acquired a new position in shares of Procore Technologies during the 4th quarter worth approximately $2,909,000. JT Stratford LLC acquired a new position in Procore Technologies in the 4th quarter valued at $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Procore Technologies by 15.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company’s stock valued at $22,347,000 after buying an additional 39,935 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Procore Technologies in the 4th quarter valued at $14,855,000. Finally, Woodline Partners LP grew its holdings in Procore Technologies by 45.8% in the 4th quarter. Woodline Partners LP now owns 691,980 shares of the company’s stock valued at $51,850,000 after buying an additional 217,351 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCOR has been the topic of several research reports. Mizuho boosted their target price on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. UBS Group boosted their target price on Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JMP Securities boosted their target price on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 18th. TD Cowen boosted their target price on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their target price on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.94.

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.