Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche Sells 22,665 Shares

Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche sold 22,665 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the transaction, the chief executive officer now directly owns 770,458 shares of the company’s stock, valued at approximately $54,979,882.88. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Procore Technologies Stock Performance

Shares of PCOR stock traded up $1.44 during trading hours on Friday, reaching $76.67. 3,600,865 shares of the company’s stock were exchanged, compared to its average volume of 1,593,241. The company’s 50 day moving average is $64.19 and its two-hundred day moving average is $63.98. 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 $11.40 billion, a P/E ratio of -153.34 and a beta of 0.71. 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 (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc raised its holdings in Procore Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after purchasing an additional 143 shares during the last quarter. Tanager Wealth Management LLP raised its stake in shares of Procore Technologies by 1.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after buying an additional 150 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its position in shares of Procore Technologies by 0.3% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after buying an additional 180 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

PCOR has been the subject of several research analyst reports. Canaccord Genuity Group upped their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on Procore Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday. Macquarie reissued a “neutral” rating and issued a $70.00 target price on shares of Procore Technologies in a research report on Tuesday, July 30th. TD Cowen lifted their price target on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday. Finally, JMP Securities decreased their price objective on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. Five 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 company. Based on data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

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.