Iconiq Strategic Partners Ii, Sells 12,340 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $71.04, for a total value of $876,633.60. Following the transaction, the insider now directly owns 2,284,989 shares of the company’s stock, valued at approximately $162,325,618.56. The trade was a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Procore Technologies Trading Down 2.5 %

Procore Technologies stock traded down $1.81 during mid-day trading on Thursday, hitting $71.61. 2,177,666 shares of the stock were exchanged, compared to its average volume of 1,572,797. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. The firm’s fifty day simple moving average is $62.23 and its two-hundred day simple moving average is $63.85. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of -143.22 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Institutional Trading of Procore Technologies

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies during the 3rd quarter worth $26,000. Signaturefd LLC raised its stake in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the period. International Assets Investment Management LLC raised its stake in Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Procore Technologies in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PCOR shares. Jefferies Financial Group boosted their target price on Procore Technologies from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group lowered their target price on Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Baird R W raised Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. BMO Capital Markets lowered their price objective on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Barclays raised their price objective on shares of Procore Technologies from $64.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.94.

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.