Connor Kevin J. O Sells 5,128 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $73.62, for a total value of $377,523.36. Following the completion of the transaction, the director now owns 1,264,700 shares in the company, valued at $93,107,214. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Procore Technologies Stock Up 2.7 %

Shares of Procore Technologies stock opened at $76.85 on Thursday. The business has a 50-day simple moving average of $76.72 and a 200-day simple moving average of $67.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $86.67.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Procore Technologies

Several large investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC lifted its holdings in Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after buying an additional 1,609,607 shares during the last quarter. Wasatch Advisors LP raised its position in shares of Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock worth $97,599,000 after acquiring an additional 1,575,534 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Procore Technologies during the third quarter worth approximately $88,572,000. XN LP boosted its holdings in Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after purchasing an additional 1,411,812 shares in the last quarter. Finally, PointState Capital LP purchased a new position in Procore Technologies in the third quarter valued at approximately $81,306,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th. BMO Capital Markets boosted their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Piper Sandler increased their target price on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Canaccord Genuity Group boosted their price target on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $100.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.00.

About Procore Technologies

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.