Benjamin Singer Sells 2,713 Shares of Procore Technologies (NYSE:PCOR) Stock

by · The Markets Daily

Procore Technologies, Inc. (NYSE:PCOR – Get Free Report) insider Benjamin Singer sold 2,713 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $50.41, for a total transaction of $136,762.33. Following the completion of the transaction, the insider owned 68,885 shares of the company’s stock, valued at approximately $3,472,492.85. The trade was a 3.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Procore Technologies Stock Up 4.1%

NYSE:PCOR traded up $1.98 during midday trading on Tuesday, hitting $50.84. 1,965,560 shares of the company were exchanged, compared to its average volume of 3,501,234. Procore Technologies, Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $82.32. The company has a market capitalization of $7.90 billion, a PE ratio of -75.88 and a beta of 0.90. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $63.85 and a 200 day simple moving average of $69.11.

Procore Technologies (NYSE:PCOR – Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative return on equity of 4.00% and a negative net margin of 7.62%.The company had revenue of $349.11 million for the quarter, compared to analyst estimates of $340.80 million. During the same quarter last year, the company posted $0.01 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

A number of large investors have recently bought and sold shares of PCOR. Brighton Jones LLC acquired a new stake in shares of Procore Technologies in the 4th quarter worth $511,000. Goldman Sachs Group Inc. raised its holdings in Procore Technologies by 5.2% during the first quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company’s stock worth $48,392,000 after purchasing an additional 36,426 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Procore Technologies by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company’s stock worth $23,156,000 after purchasing an additional 52,507 shares in the last quarter. CWM LLC lifted its position in Procore Technologies by 156.2% in the second quarter. CWM LLC now owns 3,433 shares of the company’s stock valued at $235,000 after purchasing an additional 2,093 shares during the period. Finally, Ethic Inc. boosted its holdings in Procore Technologies by 60.2% in the 2nd quarter. Ethic Inc. now owns 7,104 shares of the company’s stock valued at $482,000 after purchasing an additional 2,670 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PCOR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research note on Thursday, January 22nd. BMO Capital Markets reduced their price target on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Barclays decreased their price target on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. TD Cowen lifted their price objective on shares of Procore Technologies from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, BTIG Research decreased their target price on shares of Procore Technologies from $88.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $76.95.

Check Out Our Latest Stock Report on Procore Technologies

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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