Benjamin C. Singer Sells 1,500 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $76.18, for a total transaction of $114,270.00. Following the sale, the insider now directly owns 84,539 shares in the company, valued at $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Procore Technologies Price Performance

Shares of PCOR stock opened at $76.36 on Friday. The firm’s 50 day moving average price is $73.89 and its two-hundred day moving average price is $66.02. The stock has a market cap of $11.35 billion, a PE ratio of -152.72 and a beta of 0.82. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $86.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors have recently modified their holdings of PCOR. XN LP raised its position 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 valued at $186,215,000 after acquiring an additional 1,411,812 shares during the period. Meritage Group LP increased its stake in Procore Technologies by 66.6% in the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after purchasing an additional 1,098,019 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Procore Technologies by 128.7% in the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after purchasing an additional 1,297,151 shares during the period. Dragoneer Investment Group LLC boosted its position in shares of Procore Technologies by 254.0% during the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after purchasing an additional 1,609,607 shares in the last quarter. Finally, Holocene Advisors LP grew its holdings in shares of Procore Technologies by 1.1% in the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock valued at $115,623,000 after buying an additional 21,234 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. DA Davidson boosted their target price on Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group increased their target price on Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, November 18th. KeyCorp raised their target price on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Barclays upped their price target on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.24.

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.