Procore Technologies, Inc. (NASDAQ:PCOR) CFO Paul Lyandres Sells 11,240 Shares

Procore Technologies, Inc. (NASDAQ:PCORGet Rating) CFO Paul Lyandres sold 11,240 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $42.79, for a total value of $480,959.60. Following the completion of the sale, the chief financial officer now directly owns 504,767 shares in the company, valued at $21,598,979.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of PCOR stock traded up $1.80 during trading hours on Wednesday, hitting $42.37. 1,405,737 shares of the company’s stock traded hands, compared to its average volume of 1,004,952. The stock’s fifty day simple moving average is $53.13 and its two-hundred day simple moving average is $65.69. Procore Technologies, Inc. has a 12-month low of $40.00 and a 12-month high of $108.75. The stock has a market cap of $5.74 billion and a price-to-earnings ratio of -12.00. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.04.

Procore Technologies (NASDAQ:PCORGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.05. Procore Technologies had a negative net margin of 54.32% and a negative return on equity of 23.19%. The company had revenue of $159.52 million during the quarter, compared to analyst estimates of $150.25 million. During the same period in the previous year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. On average, equities analysts forecast that Procore Technologies, Inc. will post -1.81 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC purchased a new position in Procore Technologies in the 1st quarter worth approximately $42,646,000. The Manufacturers Life Insurance Company raised its holdings in Procore Technologies by 9.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 23,785 shares of the company’s stock worth $1,379,000 after acquiring an additional 2,146 shares during the last quarter. Walleye Capital LLC purchased a new position in Procore Technologies in the 1st quarter worth approximately $505,000. Virtu Financial LLC purchased a new position in Procore Technologies in the 1st quarter worth approximately $249,000. Finally, Advisors Asset Management Inc. purchased a new position in Procore Technologies in the 1st quarter worth approximately $42,000. Institutional investors own 91.35% of the company’s stock.

Several analysts recently issued reports on the company. Stifel Nicolaus cut their target price on Procore Technologies to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 28th. JPMorgan Chase & Co. lowered their price objective on shares of Procore Technologies from $123.00 to $113.00 and set an “overweight” rating for the company in a report on Wednesday, February 23rd. Jefferies Financial Group lowered their price objective on shares of Procore Technologies from $90.00 to $75.00 in a report on Monday. Oppenheimer lowered their price objective on shares of Procore Technologies from $85.00 to $70.00 in a report on Thursday, May 5th. Finally, The Goldman Sachs Group lowered their price objective on shares of Procore Technologies from $90.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, April 14th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $87.46.

Procore Technologies Company Profile (Get Rating)

Procore Technologies, Inc provides 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

Featured Stories

Insider Buying and Selling by Quarter for Procore Technologies (NASDAQ:PCOR)

Receive News & Ratings for Procore Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procore Technologies and related companies with MarketBeat.com's FREE daily email newsletter.