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 company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $58.48, for a total transaction of $299,885.44. Following the completion of the sale, the director now owns 1,360,848 shares in the company, valued at approximately $79,582,391.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Procore Technologies Stock Performance

PCOR traded up $3.16 during mid-day trading on Thursday, reaching $60.02. 1,944,311 shares of the company traded hands, compared to its average volume of 1,524,253. The company’s fifty day moving average price is $60.72 and its 200-day moving average price is $67.62. The stock has a market capitalization of $8.86 billion, a P/E ratio of -62.49 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 52-week low of $48.11 and a 52-week high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The company had revenue of $284.30 million during 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%. Procore Technologies’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.28) earnings per share. On average, sell-side analysts expect that Procore Technologies, Inc. will post -0.28 EPS for the current year.

Institutional Trading of Procore Technologies

Large investors have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC raised its position in 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 during the period. XN LP increased its stake in shares of Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after purchasing an additional 1,411,812 shares in the last quarter. Meritage Group LP bought a new position in Procore Technologies in the 1st quarter worth $106,738,000. William Blair Investment Management LLC bought a new position in Procore Technologies in the 1st quarter worth $91,158,000. Finally, Norges Bank purchased a new position in Procore Technologies during the fourth quarter valued at $68,005,000. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Scotiabank cut their price target on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 2nd. Mizuho reissued a “neutral” rating and issued a $70.00 target price (down from $75.00) on shares of Procore Technologies in a research note on Tuesday, June 4th. Macquarie reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Procore Technologies in a research report on Tuesday, July 30th. The Goldman Sachs Group dropped their price target on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.31.

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.