Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) insider Benjamin Singer sold 2,586 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $75.00, for a total transaction of $193,950.00. Following the sale, the insider owned 84,345 shares in the company, valued at approximately $6,325,875. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Procore Technologies Stock Down 0.4%
PCOR stock traded down $0.28 during midday trading on Friday, hitting $75.33. The company's stock had a trading volume of 4,049,430 shares, compared to its average volume of 3,008,882. Procore Technologies, Inc. has a 52-week low of $38.03 and a 52-week high of $80.40. The firm has a market capitalization of $11.45 billion, a P/E ratio of -327.49 and a beta of 0.75. The firm has a 50-day simple moving average of $57.53 and a 200-day simple moving average of $53.50.
Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The business had revenue of $402.31 million during the quarter, compared to the consensus estimate of $384.38 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company's quarterly revenue was up 18.7% compared to the same quarter last year. On average, sell-side analysts expect that Procore Technologies, Inc. will post 0.44 earnings per share for the current fiscal year.
Procore Technologies News Summary
Here are the key news stories impacting Procore Technologies this week:
- Positive Sentiment: Procore reported Q3 earnings of $0.51 per share, topping estimates of about $0.45–$0.46. Revenue rose 18.7% year over year to $402.3 million, also exceeding expectations. Shares climbed 12.4% following the earnings beat. Procore shares climb following earnings beat
- Positive Sentiment: Several firms raised their price targets and maintained or issued bullish ratings. Citizens JMP lifted its target to $91, while UBS raised its target to $95 and reiterated Buy; Loop Capital also upgraded the stock from Hold to Buy with a $93 target. These actions signal stronger analyst confidence after the results. Citizens JMP raises Procore price target
- Neutral Sentiment: A Procore director sold 7,692 shares under a pre-arranged Rule 10b5-1 trading plan. The sale was a small reduction in his holdings, which remained substantial after the transaction. Director share sale
Institutional Trading of Procore Technologies
Several institutional investors and hedge funds have recently made changes to their positions in the company. Twin Tree Management LP acquired a new stake in shares of Procore Technologies in the 2nd quarter valued at about $40,000. Allworth Financial LP grew its stake in Procore Technologies by 128.3% during the 3rd quarter. Allworth Financial LP now owns 799 shares of the company's stock worth $41,000 after buying an additional 449 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Procore Technologies during the second quarter worth approximately $52,000. Versant Capital Management Inc increased its position in Procore Technologies by 50.3% during the second quarter. Versant Capital Management Inc now owns 1,581 shares of the company's stock worth $64,000 after buying an additional 529 shares during the period. Finally, Canton Hathaway LLC purchased a new stake in Procore Technologies in the third quarter valued at approximately $69,000. 81.10% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Loop Capital raised Procore Technologies from a "hold" rating to a "buy" rating and set a $93.00 price target on the stock in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Procore Technologies from $69.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday. Weiss Ratings upgraded shares of Procore Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, October 23rd. DA Davidson set a $56.00 target price on shares of Procore Technologies in a report on Monday, September 28th. Finally, Zacks Research cut shares of Procore Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Eighteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $80.35.
Read Our Latest Research Report on PCOR
Procore Technologies Company Profile
(
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Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company's technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.
Procore's products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.
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