Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) SVP William Fleming, Jr. sold 16,852 shares of the business's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $76.57, for a total transaction of $1,290,357.64. Following the completion of the transaction, the senior vice president owned 91,049 shares of the company's stock, valued at $6,971,621.93. This trade represents a 15.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Procore Technologies Stock Down 0.3%
NYSE:PCOR opened at $77.28 on Friday. The stock's fifty day moving average price is $58.74 and its two-hundred day moving average price is $53.74. Procore Technologies, Inc. has a 52-week low of $38.03 and a 52-week high of $79.80. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.17 and a current ratio of 1.06. The company has a market cap of $11.56 billion, a price-to-earnings ratio of -336.00 and a beta of 0.75.
Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $402.31 million during the quarter, compared to analysts' expectations of $384.38 million. Procore Technologies had a positive return on equity of 2.67% and a negative net margin of 2.31%. The business's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. On average, analysts anticipate that Procore Technologies, Inc. will post 0.42 EPS for the current year.
Institutional Trading of Procore Technologies
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Procore Technologies during the 2nd quarter valued at $300,345,000. Assenagon Asset Management S.A. lifted its stake in shares of Procore Technologies by 0.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,430,657 shares of the company's stock valued at $229,154,000 after purchasing an additional 32,494 shares during the period. Wellington Management Group LLP boosted its position in shares of Procore Technologies by 8.2% in the 2nd quarter. Wellington Management Group LLP now owns 3,450,671 shares of the company's stock worth $140,166,000 after purchasing an additional 260,314 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Procore Technologies in the 2nd quarter worth $114,444,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Procore Technologies by 158.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,020,531 shares of the company's stock worth $115,170,000 after purchasing an additional 1,240,247 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on PCOR. Guggenheim raised their price target on Procore Technologies from $68.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, November 5th. DA Davidson set a $56.00 price objective on Procore Technologies in a research report on Monday, September 28th. Zacks Research cut Procore Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Citigroup restated a "market outperform" rating on shares of Procore Technologies in a research report on Monday, October 26th. Finally, Jefferies Financial Group cut their target price on shares of Procore Technologies from $95.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. Eighteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $80.35.
Read Our Latest Stock Report on Procore Technologies
Procore Technologies Company Profile
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Procore Technologies provides cloud-based construction management software designed to help construction companies plan, manage and execute projects. Its platform connects project teams and stakeholders, including owners, general contractors, specialty contractors and design professionals. Procore's products support project management, construction financials, workforce coordination, quality and safety processes, and project data and analytics. The platform also offers integrations with third-party applications to help customers connect construction workflows and business systems.
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