Benjamin C. Singer Sells 6,937 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 6,937 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $83.60, for a total value of $579,933.20. Following the completion of the sale, the insider now owns 72,110 shares of the company’s stock, valued at approximately $6,028,396. This trade represents a 8.78 % 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 Price Performance

Shares of PCOR opened at $82.28 on Friday. 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 $88.92. The stock has a market cap of $12.23 billion, a P/E ratio of -114.27 and a beta of 0.84. The stock’s 50-day moving average price is $78.09 and its two-hundred day moving average price is $69.49.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. On average, equities 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 modified their holdings of the business. Diversified Trust Co lifted its holdings in shares of Procore Technologies by 157.1% during the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock valued at $3,795,000 after purchasing an additional 30,948 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Procore Technologies by 39.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock valued at $59,635,000 after purchasing an additional 272,030 shares in the last quarter. Barclays PLC lifted its holdings in shares of Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company’s stock valued at $4,259,000 after purchasing an additional 22,734 shares in the last quarter. Advantage Alpha Capital Partners LP lifted its holdings in shares of Procore Technologies by 30.2% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock valued at $7,825,000 after purchasing an additional 29,431 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in shares of Procore Technologies by 804.3% during the 3rd quarter. Pathstone Holdings LLC now owns 145,802 shares of the company’s stock valued at $8,999,000 after purchasing an additional 129,679 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $100.00 in a research note on Monday, January 6th. JMP Securities raised their target price on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 18th. Piper Sandler lifted their price objective on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, UBS Group lifted their price objective on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.94.

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.