Key Points
- Chairman Craig Jr. Courtemanche sold 75,000 shares of Procore on Dec. 15 at an average price of $72.70 for a total of $5,452,500, reducing his holding by 6.10% to 1,155,480 shares (~$84.0M).
- Despite the insider sale and Procore reporting a negative EPS (−$0.19 last quarter) and net margin (−9.84%), analysts remain largely positive with a consensus "Moderate Buy" and an average price target of $84.67, while the stock trades near $73 and the company has a market cap of about $11.4B.
Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Chairman Craig Jr. Courtemanche sold 75,000 shares of Procore Technologies stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $72.70, for a total transaction of $5,452,500.00. Following the sale, the chairman owned 1,155,480 shares in the company, valued at approximately $84,003,396. The trade was a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Procore Technologies Stock Performance
Shares of NYSE PCOR opened at $73.43 on Thursday. The firm's fifty day moving average is $74.14 and its two-hundred day moving average is $71.03. Procore Technologies, Inc. has a 52-week low of $53.71 and a 52-week high of $88.92. The company has a market cap of $11.42 billion, a P/E ratio of -87.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33.
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 for the quarter. The firm had revenue of $172.21 million for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
PCOR has been the subject of a number of research reports. BTIG Research reiterated a "buy" rating and set a $88.00 target price on shares of Procore Technologies in a research report on Wednesday. Berenberg Bank began coverage on shares of Procore Technologies in a research report on Friday, October 3rd. They set a "buy" rating and a $84.00 price objective for the company. BMO Capital Markets boosted their target price on shares of Procore Technologies from $82.00 to $87.00 and gave the stock an "outperform" rating in a report on Thursday, November 6th. KeyCorp increased their price target on shares of Procore Technologies from $81.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, November 6th. Finally, Robert W. Baird boosted their price objective on Procore Technologies from $88.00 to $93.00 and gave the stock an "outperform" rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.67.
Get Our Latest Stock Analysis on PCOR
Institutional Investors Weigh In On Procore Technologies
Several hedge funds and other institutional investors have recently modified their holdings of PCOR. Global Retirement Partners LLC boosted its holdings in Procore Technologies by 465.2% during the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company's stock valued at $28,000 after acquiring an additional 321 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Procore Technologies in the 3rd quarter worth about $34,000. Northwestern Mutual Wealth Management Co. increased its stake in Procore Technologies by 277.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock worth $35,000 after buying an additional 385 shares during the period. Jones Financial Companies Lllp boosted its position in Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company's stock valued at $35,000 after buying an additional 199 shares during the period. Finally, SVB Wealth LLC bought a new position in Procore Technologies in the 1st quarter worth about $49,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.
Procore Technologies Company Profile
(
Get Free Report)
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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