Craig Jr. Courtemanche Sells 75,000 Shares of Procore Technologies (NYSE:PCOR) Stock

by · The Cerbat Gem

Procore Technologies, Inc. (NYSE:PCOR – Get Free Report) Chairman Craig Jr. Courtemanche sold 75,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $72.70, for a total transaction of $5,452,500.00. Following the sale, the chairman directly owned 1,155,480 shares of the company’s stock, valued at $84,003,396. This represents a 6.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Procore Technologies Price Performance

NYSE:PCOR traded up $1.17 during mid-day trading on Wednesday, reaching $73.43. The stock had a trading volume of 881,775 shares, compared to its average volume of 1,198,924. Procore Technologies, Inc. has a 12 month low of $53.71 and a 12 month high of $88.92. The stock has a market capitalization of $11.42 billion, a PE ratio of -87.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a 50-day simple moving average of $74.14 and a two-hundred day simple moving average of $71.03.

Procore Technologies (NYSE:PCOR – Get Free Report) last issued its earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The business had revenue of $172.21 million for the quarter. On average, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Procore Technologies by 6.2% in the third quarter. Vanguard Group Inc. now owns 12,353,586 shares of the company’s stock valued at $900,823,000 after buying an additional 718,663 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Procore Technologies by 493.9% in the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock worth $445,391,000 after acquiring an additional 5,079,534 shares during the period. Wasatch Advisors LP boosted its holdings in Procore Technologies by 6.8% in the third quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company’s stock valued at $362,560,000 after acquiring an additional 315,604 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Procore Technologies by 76.6% in the third quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock valued at $294,449,000 after acquiring an additional 1,750,998 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Procore Technologies by 77.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company’s stock valued at $248,066,000 after purchasing an additional 1,486,153 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Canaccord Genuity Group increased their price target on Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Robert W. Baird boosted their price objective on Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. KeyCorp increased their target price on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Berenberg Bank assumed coverage on Procore Technologies in a report on Friday, October 3rd. They set a “buy” rating and a $84.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $84.67.

Get Our Latest Analysis on Procore Technologies

Procore Technologies Company Profile

(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.

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