Procore Technologies, Inc. (NYSE:PCOR) Major Shareholder Sells $876,633.60 in Stock

Procore Technologies, Inc. (NYSE:PCOR) major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $71.04, for a total transaction of $876,633.60. Following the completion of the transaction, the insider now owns 2,284,989 shares of the company’s stock, valued at $162,325,618.56. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Procore Technologies Trading Down 3.4 %

Shares of Procore Technologies stock opened at $69.15 on Friday. The stock has a market cap of $10.28 billion, a PE ratio of -138.30 and a beta of 0.71. The firm has a fifty day moving average price of $62.53 and a 200 day moving average price of $63.85. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $83.35. 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 released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Equities research analysts predict that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PCOR shares. The Goldman Sachs Group decreased their target price on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. DA Davidson reiterated a “neutral” rating and set a $60.00 price objective on shares of Procore Technologies in a report on Wednesday, October 2nd. BMO Capital Markets dropped their target price on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Piper Sandler increased their price target on Procore Technologies from $63.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, TD Cowen boosted their price target on Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and an average price target of $69.94.

Institutional Investors Weigh In On Procore Technologies

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

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.