Procore Technologies, Inc. (NYSE:PCOR) CEO Sells $4,689,960.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the transaction, the chief executive officer now owns 530,049 shares of the company’s stock, valued at $36,557,479.53. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Procore Technologies Price Performance

Procore Technologies stock opened at $68.14 on Friday. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a 50 day moving average price of $76.24 and a 200 day moving average price of $68.91. The company has a market cap of $9.87 billion, a price-to-earnings ratio of -70.98 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.13. The company had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.37%. Sell-side analysts predict that Procore Technologies, Inc. will post -0.64 earnings per share for the current year.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently added to or reduced their stakes in PCOR. Xponance Inc. lifted its stake in shares of Procore Technologies by 4.4% in the 3rd quarter. Xponance Inc. now owns 11,364 shares of the company’s stock valued at $742,000 after purchasing an additional 481 shares in the last quarter. Raymond James & Associates purchased a new stake in Procore Technologies during the third quarter worth approximately $261,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Procore Technologies in the third quarter worth $304,000. Bank of New York Mellon Corp raised its stake in shares of Procore Technologies by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 454,477 shares of the company’s stock valued at $29,686,000 after acquiring an additional 17,111 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Procore Technologies by 32.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,425 shares of the company’s stock valued at $1,073,000 after acquiring an additional 3,992 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PCOR shares. JMP Securities raised their price objective on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research note on Friday, February 16th. Barclays cut their price target on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday. BMO Capital Markets decreased their price objective on Procore Technologies from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday. KeyCorp boosted their target price on shares of Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, Mizuho reduced their target price on shares of Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $81.79.

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.