Key Points
- Director Connor Kevin O sold 7,692 shares of Procore on Jan. 21 at an average price of $64.31 for about $494,672, trimming his stake by 0.74% to 1,035,212 shares (valued ~ $66.57M).
- Procore reported a quarterly EPS beat ($0.42 vs. $0.32) and 14.5% revenue growth to $338.85M but remains unprofitable (net margin -9.84%); analysts hold a Moderate Buy consensus with an average price target of $85.11.
Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Director Connor Kevin O sold 7,692 shares of the firm's stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $64.31, for a total transaction of $494,672.52. Following the completion of the transaction, the director owned 1,035,212 shares in the company, valued at $66,574,483.72. The trade was a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Procore Technologies Stock Performance
Shares of PCOR opened at $65.67 on Friday. The company has a market capitalization of $10.21 billion, a PE ratio of -78.18 and a beta of 0.90. 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 one year low of $53.71 and a one year high of $88.92. The company's fifty day moving average price is $72.91 and its 200 day moving average price is $71.77.
Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.10. The company had revenue of $338.85 million for the quarter, compared to the consensus estimate of $328.13 million. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The firm's revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. As a group, analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Procore Technologies by 100.6% during the fourth quarter. Farther Finance Advisors LLC now owns 3,083 shares of the company's stock worth $224,000 after buying an additional 1,546 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Procore Technologies by 39.1% during the 4th quarter. Assetmark Inc. now owns 128,239 shares of the company's stock worth $9,328,000 after acquiring an additional 36,022 shares during the period. Third View Private Wealth LLC acquired a new stake in shares of Procore Technologies during the 4th quarter valued at about $377,000. Burney Co. bought a new stake in Procore Technologies in the fourth quarter valued at about $213,000. Finally, Choreo LLC increased its stake in Procore Technologies by 12.4% in the fourth quarter. Choreo LLC now owns 4,626 shares of the company's stock valued at $341,000 after acquiring an additional 510 shares during the period. 81.10% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on PCOR shares. BMO Capital Markets lifted their price target on Procore Technologies from $82.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, November 6th. Canaccord Genuity Group raised their price objective on shares of Procore Technologies from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, November 6th. Wall Street Zen upgraded shares of Procore Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, November 8th. 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, BTIG Research restated a "buy" rating and issued a $88.00 price target on shares of Procore Technologies in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $85.11.
Get Our Latest Analysis on PCOR
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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.
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