Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) insider Benjamin Singer sold 3,943 shares of Procore Technologies stock in a transaction on Friday, August 21st. The stock was sold at an average price of $63.35, for a total value of $249,789.05. Following the sale, the insider owned 86,931 shares in the company, valued at $5,507,078.85. The trade was a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Procore Technologies Stock Performance
NYSE PCOR opened at $62.10 on Tuesday. The company has a market capitalization of $9.44 billion, a PE ratio of -238.87 and a beta of 0.70. Procore Technologies, Inc. has a 52-week low of $38.03 and a 52-week high of $82.32. The company has a 50-day simple moving average of $48.57 and a 200 day simple moving average of $51.23.
Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The firm had revenue of $375.21 million during the quarter, compared to the consensus estimate of $365.82 million. During the same period in the prior year, the firm earned $0.35 EPS. The company's revenue was up 15.8% compared to the same quarter last year. As a group, analysts forecast that Procore Technologies, Inc. will post 0.09 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Citizens Jmp raised Procore Technologies from a "market perform" rating to a "market outperform" rating and set a $71.00 target price for the company in a research report on Wednesday, April 29th. Citigroup restated a "market outperform" rating on shares of Procore Technologies in a research note on Tuesday, July 21st. UBS Group boosted their price target on shares of Procore Technologies from $68.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, July 31st. TD Cowen dropped their price target on shares of Procore Technologies from $70.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group cut their price objective on shares of Procore Technologies from $80.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.44.
Get Our Latest Stock Analysis on Procore Technologies
Institutional Investors Weigh In On Procore Technologies
Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its stake in Procore Technologies by 3,881.6% during the second quarter. California State Teachers Retirement System now owns 5,391,046 shares of the company's stock valued at $218,984,000 after acquiring an additional 5,255,648 shares in the last quarter. AlphaGrep UK Ltd purchased a new stake in Procore Technologies in the 2nd quarter worth approximately $562,000. AXQ Capital LP bought a new position in Procore Technologies in the 2nd quarter valued at $2,621,000. Nykredit A S purchased a new position in shares of Procore Technologies during the 2nd quarter valued at $145,000. Finally, Spyglass Capital Management LLC grew its position in shares of Procore Technologies by 4.7% during 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 in the last quarter. 81.10% of the stock is currently owned by institutional investors.
Procore Technologies Company Profile
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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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