Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) Insider Sells 1,500 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now owns 84,539 shares of the company's stock, valued at $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Procore Technologies Price Performance

Shares of PCOR stock traded up $0.11 during trading hours on Thursday, reaching $77.90. The company's stock had a trading volume of 923,251 shares, compared to its average volume of 1,661,149. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The firm's 50 day simple moving average is $73.63 and its 200-day simple moving average is $65.96. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of -155.80 and a beta of 0.82.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Sell-side analysts forecast that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PCOR. Westfield Capital Management Co. LP grew its position in Procore Technologies by 39.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company's stock worth $59,635,000 after acquiring an additional 272,030 shares during the last quarter. Advantage Alpha Capital Partners LP grew its holdings in shares of Procore Technologies by 30.2% during the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company's stock worth $7,825,000 after purchasing an additional 29,431 shares during the last quarter. Pathstone Holdings LLC grew its holdings in shares of Procore Technologies by 804.3% during the third quarter. Pathstone Holdings LLC now owns 145,802 shares of the company's stock worth $8,999,000 after purchasing an additional 129,679 shares during the last quarter. Barclays PLC increased its stake in shares of Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after buying an additional 22,734 shares during the period. Finally, Geode Capital Management LLC boosted its position in Procore Technologies by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company's stock worth $105,967,000 after buying an additional 168,769 shares during the period. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Baird R W upgraded shares of Procore Technologies to a "strong-buy" rating in a research note on Tuesday, September 24th. The Goldman Sachs Group boosted their price objective on Procore Technologies from $73.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Stifel Nicolaus increased their target price on Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Robert W. Baird boosted their price target on Procore Technologies from $87.00 to $96.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets lifted their target price on Procore Technologies from $71.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and an average target price of $84.24.

Procore Technologies Company Profile

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.