Connor Kevin O Sells 7,692 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin O sold 7,692 shares of Procore Technologies stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $64.31, for a total value of $494,672.52. Following the transaction, the director directly owned 1,035,212 shares in the company, valued at approximately $66,574,483.72. The trade was a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Procore Technologies Trading Up 1.0%

Procore Technologies stock opened at $65.67 on Friday. Procore Technologies, Inc. has a 12-month low of $53.71 and a 12-month high of $88.92. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of -78.18 and a beta of 0.90. The firm has a 50 day moving average of $72.91 and a 200 day moving average of $71.77. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The business had revenue of $338.85 million during the quarter, compared to analyst estimates of $328.13 million. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. As a group, research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Procore Technologies

Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Procore Technologies during the 4th quarter worth approximately $511,000. Goldman Sachs Group Inc. increased its position in Procore Technologies by 5.2% in the first quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company’s stock worth $48,392,000 after purchasing an additional 36,426 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Procore Technologies by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company’s stock valued at $23,156,000 after purchasing an additional 52,507 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Procore Technologies by 13.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,759 shares of the company’s stock valued at $640,000 after purchasing an additional 1,057 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Procore Technologies by 129.8% during the second quarter. Public Employees Retirement System of Ohio now owns 75,710 shares of the company’s stock valued at $5,180,000 after purchasing an additional 42,769 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PCOR. Wall Street Zen raised Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson upgraded Procore Technologies to a “hold” rating in a research report on Friday, November 7th. Barclays raised Procore Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $82.00 to $90.00 in a research note on Monday, January 5th. BTIG Research reissued a “buy” rating and issued a $88.00 price target on shares of Procore Technologies in a report on Wednesday, December 17th. Finally, KeyCorp increased their price objective on shares of Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $85.11.

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. 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 Execution, 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.