Connor Kevin J. O Sells 5,128 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $58.48, for a total value of $299,885.44. Following the transaction, the director now directly owns 1,360,848 shares in the company, valued at approximately $79,582,391.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Procore Technologies Stock Down 0.9 %

NYSE:PCOR opened at $59.49 on Friday. The stock’s fifty day simple moving average is $60.62 and its 200-day simple moving average is $67.57. The firm has a market capitalization of $8.79 billion, a P/E ratio of -61.97 and a beta of 0.73. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. The firm had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $275.26 million. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The company’s revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.28) earnings per share. Equities research analysts expect that Procore Technologies, Inc. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PCOR shares. JMP Securities cut their price target on Procore Technologies from $93.00 to $82.00 and set a “market outperform” rating for the company in a report on Friday, August 2nd. Mizuho reissued a “neutral” rating and issued a $70.00 price objective (down from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th. TD Cowen started coverage on Procore Technologies in a research note on Wednesday, June 12th. They issued a “buy” rating and a $85.00 target price for the company. DA Davidson cut shares of Procore Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $60.00 in a research note on Friday, August 2nd. Finally, KeyCorp lowered their price objective on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.31.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently bought and sold shares of PCOR. Vanguard Group Inc. grew its holdings in shares of Procore Technologies by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock valued at $764,111,000 after buying an additional 94,190 shares during the period. Cadian Capital Management LP lifted its holdings in Procore Technologies by 22.9% during the fourth quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock worth $257,384,000 after acquiring an additional 692,218 shares in the last quarter. XN LP grew its stake in Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after acquiring an additional 1,411,812 shares during the period. Dragoneer Investment Group LLC increased its holdings in shares of Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after acquiring an additional 1,609,607 shares in the last quarter. Finally, Robeco Schweiz AG raised its position in shares of Procore Technologies by 20.1% during the second quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock worth $87,198,000 after purchasing an additional 220,000 shares during the period. Institutional investors own 81.10% of the company’s stock.

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.