Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Insider Sells 1,500 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total value of $117,000.00. Following the transaction, the insider now directly owns 83,039 shares of the company’s stock, valued at approximately $6,477,042. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Procore Technologies Stock Down 0.8 %

NYSE PCOR traded down $0.62 during trading on Thursday, reaching $78.38. The company’s stock had a trading volume of 796,926 shares, compared to its average volume of 1,025,415. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $86.67. The business has a 50-day moving average price of $77.49 and a 200-day moving average price of $67.41. The stock has a market capitalization of $11.65 billion, a PE ratio of -156.75 and a beta of 0.83.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. On average, research analysts forecast that Procore Technologies, Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen upped their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a report on Friday, November 22nd. UBS Group started coverage on shares of Procore Technologies in a research report on Monday, December 2nd. They issued a “buy” rating and a $105.00 price target on the stock. Stifel Nicolaus raised their price objective on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Four 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. Based on data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc grew its holdings in shares of 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 grew its holdings in Procore Technologies by 1.3% during the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock worth $787,000 after acquiring an additional 168 shares during the last quarter. GAMMA Investing LLC increased its position in Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in shares of Procore Technologies by 6.9% during the third quarter. OneDigital Investment Advisors LLC now owns 5,213 shares of the company’s stock valued at $322,000 after purchasing an additional 336 shares during the last quarter. Institutional investors and hedge funds 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.