Key Points
- Lawrence Joseph Stack, Procore's CRO, sold 10,000 shares on Dec. 2 at an average of $75.30 for about $753,000, reducing his holding by 5.15% to 184,128 shares.
- Procore reported a -$0.19 EPS and $172.21M in revenue for the last quarter, with a negative net margin (~-9.84%) and a market cap of roughly $11.9B (PE -91.29), indicating ongoing losses despite revenue growth.
- Analyst sentiment skews positive: the stock has a consensus "Moderate Buy" rating with an average price target of $84.47, and several firms recently raised targets or issued outperform/overweight ratings.
Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) CRO Lawrence Joseph Stack sold 10,000 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $75.30, for a total transaction of $753,000.00. Following the completion of the transaction, the executive directly owned 184,128 shares in the company, valued at $13,864,838.40. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Procore Technologies Price Performance
Shares of PCOR opened at $76.69 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92. The stock has a market cap of $11.92 billion, a PE ratio of -91.29 and a beta of 0.90. The firm has a fifty day moving average price of $73.68 and a 200 day moving average price of $70.54.
Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The firm had revenue of $172.21 million for the quarter. As a group, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.
Institutional Investors Weigh In On Procore Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss Life Asset Management Ltd boosted its stake in shares of Procore Technologies by 70.7% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 5,006 shares of the company's stock worth $365,000 after acquiring an additional 2,073 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Procore Technologies in the 3rd quarter valued at approximately $18,962,000. Wilmington Savings Fund Society FSB acquired a new position in Procore Technologies during the third quarter worth $34,000. Coldstream Capital Management Inc. boosted its position in Procore Technologies by 42.0% during the third quarter. Coldstream Capital Management Inc. now owns 5,937 shares of the company's stock worth $433,000 after purchasing an additional 1,757 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in Procore Technologies in the third quarter valued at $117,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PCOR has been the subject of a number of research reports. BMO Capital Markets boosted their price objective on Procore Technologies from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, November 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Procore Technologies in a research report on Wednesday, October 8th. Robert W. Baird upped their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the company an "outperform" rating in a research report on Thursday, November 6th. Berenberg Bank started coverage on shares of Procore Technologies in a research note on Friday, October 3rd. They set a "buy" rating and a $84.00 price target for the company. Finally, KeyCorp raised their price objective on shares of Procore Technologies from $81.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, November 6th. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.47.
Get Our Latest Stock Analysis on Procore Technologies
About Procore Technologies
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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.
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