Procore Technologies, Inc. (NYSE:PCOR) Director Graham Smith Sells 1,787 Shares

Procore Technologies, Inc. (NYSE:PCORGet Free Report) Director Graham Smith sold 1,787 shares of Procore Technologies stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $117,370.16. Following the sale, the director now directly owns 46,620 shares in the company, valued at approximately $3,062,001.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Procore Technologies Trading Up 1.9 %

Procore Technologies stock opened at $67.18 on Tuesday. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35. The firm’s 50-day moving average is $70.40 and its 200-day moving average is $70.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61. The company has a market cap of $9.83 billion, a P/E ratio of -69.98 and a beta of 0.76.

Procore Technologies (NYSE:PCORGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The firm had revenue of $269.43 million for the quarter, compared to analysts’ expectations of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. On average, equities analysts expect that Procore Technologies, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCOR. The Goldman Sachs Group raised their target price on Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 16th. JMP Securities lifted their price objective on Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a report on Friday, February 16th. Mizuho reiterated a “neutral” rating and set a $70.00 target price (down from $75.00) on shares of Procore Technologies in a research note on Tuesday, June 4th. Stifel Nicolaus lifted their price target on shares of Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, BMO Capital Markets cut their price target on shares of Procore Technologies from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Get Our Latest Analysis on PCOR

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its holdings in shares of Procore Technologies by 4,290.2% during the fourth quarter. Cerity Partners LLC now owns 1,334,194 shares of the company’s stock valued at $92,353,000 after acquiring an additional 1,303,804 shares during the period. Meritage Group LP acquired a new position in Procore Technologies during the 1st quarter valued at about $106,738,000. William Blair Investment Management LLC bought a new position in Procore Technologies in the 1st quarter worth about $91,158,000. Vanguard Group Inc. grew its position in Procore Technologies by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock worth $557,746,000 after purchasing an additional 995,757 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Procore Technologies in the fourth quarter valued at approximately $68,005,000. 81.10% of the stock is currently owned by institutional investors.

About Procore Technologies

(Get Free Report)

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.

Further Reading

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

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