Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CEO Sells 22,665 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche sold 22,665 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the sale, the chief executive officer now owns 770,458 shares of the company’s stock, valued at $54,979,882.88. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Procore Technologies Price Performance

Shares of PCOR opened at $76.67 on Friday. The business’s 50-day moving average is $64.19 and its two-hundred day moving average is $63.98. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $83.35. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of recent research reports. KeyCorp increased their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday. Barclays increased their target price on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday. The Goldman Sachs Group boosted their price target on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday. Macquarie reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Procore Technologies in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group boosted their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after buying an additional 175 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Procore Technologies during the 3rd quarter worth about $26,000. Signaturefd LLC grew its position in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the period. International Assets Investment Management LLC increased its stake in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in Procore Technologies in the 2nd quarter worth about $51,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.