Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Director Elisa Steele sold 1,500 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $63.00, for a total value of $94,500.00. Following the sale, the director directly owned 58,371 shares in the company, valued at $3,677,373. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Procore Technologies Price Performance
PCOR stock opened at $63.01 on Friday. The stock's fifty day moving average price is $47.76 and its 200-day moving average price is $51.10. The company has a market cap of $9.57 billion, a P/E ratio of -242.35 and a beta of 0.70. Procore Technologies, Inc. has a 1 year low of $38.03 and a 1 year high of $82.32.
Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%.The firm had revenue of $375.21 million during the quarter, compared to analyst estimates of $365.82 million. During the same period in the prior year, the business posted $0.35 EPS. Procore Technologies's revenue was up 15.8% on a year-over-year basis. As a group, analysts expect that Procore Technologies, Inc. will post 0.09 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on PCOR. BTIG Research reiterated a "buy" rating and issued a $66.00 price target on shares of Procore Technologies in a report on Friday, July 24th. Guggenheim started coverage on Procore Technologies in a research note on Thursday, July 23rd. They issued a "buy" rating and a $68.00 price objective for the company. The Goldman Sachs Group cut their price objective on shares of Procore Technologies from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Citigroup restated a "market outperform" rating on shares of Procore Technologies in a research report on Tuesday, July 21st. Finally, UBS Group increased their price target on Procore Technologies from $68.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Procore Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $70.44.
Check Out Our Latest Stock Report on PCOR
Hedge Funds Weigh In On Procore Technologies
Large investors have recently made changes to their positions in the company. Spyglass Capital Management LLC lifted its stake in shares of Procore Technologies by 4.7% in the 2nd quarter. Spyglass Capital Management LLC now owns 1,052,908 shares of the company's stock valued at $42,769,000 after purchasing an additional 47,537 shares during the period. Kerrisdale Advisers LLC acquired a new stake in Procore Technologies during the second quarter valued at $315,000. Quantitative Investment Management LLC acquired a new stake in Procore Technologies during the second quarter valued at $341,000. Two Sigma Securities LLC purchased a new position in Procore Technologies in the second quarter valued at $517,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Procore Technologies by 4.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 330,373 shares of the company's stock valued at $13,420,000 after buying an additional 13,597 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.
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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