Key Points
- Procore Technologies director Connor Kevin O sold 5,769 shares on June 16 at an average price of $42.00, totaling about $242,298. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, the director still owned 973,670 shares, with the sale representing a 0.59% reduction in his holdings.
- Procore’s stock was trading near its 52-week low at $40.14, after the company recently reported mixed quarterly results with revenue above estimates but earnings slightly below expectations.
Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Director Connor Kevin O sold 5,769 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $42.00, for a total value of $242,298.00. Following the transaction, the director directly owned 973,670 shares of the company's stock, valued at $40,894,140. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Procore Technologies Price Performance
PCOR stock opened at $40.14 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $6.06 billion, a P/E ratio of -78.70 and a beta of 0.73. The business's 50-day moving average is $50.01 and its two-hundred day moving average is $58.68. Procore Technologies, Inc. has a 1 year low of $40.04 and a 1 year high of $82.32.
Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.The company had revenue of $359.28 million for the quarter, compared to analyst estimates of $352.82 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The business's quarterly revenue was up 15.7% compared to the same quarter last year. Analysts anticipate that Procore Technologies, Inc. will post 0.06 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
PCOR has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on shares of Procore Technologies from $79.00 to $71.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. The Goldman Sachs Group decreased their price objective on shares of Procore Technologies from $80.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Zacks Research upgraded shares of Procore Technologies from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Citizens Jmp upgraded Procore Technologies from a "market perform" rating to a "market outperform" rating and set a $71.00 price target on the stock in a research note on Wednesday, April 29th. Finally, TD Cowen decreased their price target on Procore Technologies from $85.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, April 21st. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $71.33.
Check Out Our Latest Analysis on Procore Technologies
Hedge Funds Weigh In On Procore Technologies
Several large investors have recently bought and sold shares of PCOR. Brighton Jones LLC acquired a new stake in shares of Procore Technologies during the fourth quarter worth about $511,000. Goldman Sachs Group Inc. boosted its position in shares of Procore Technologies by 5.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company's stock valued at $48,392,000 after purchasing an additional 36,426 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Procore Technologies by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company's stock valued at $23,156,000 after purchasing an additional 52,507 shares during the period. Prudential Financial Inc. grew its stake in Procore Technologies by 56.8% during the 2nd quarter. Prudential Financial Inc. now owns 6,850 shares of the company's stock worth $471,000 after buying an additional 2,480 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Procore Technologies by 3.8% during the second quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company's stock worth $500,000 after buying an additional 269 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.
About Procore Technologies
(
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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