Director of Procore Technologies, Inc. (NYSE:PCOR) sells $2,069,851.66 in stock

Procore Technologies, Inc. (NYSE:PCOR – Get Your Free Report ) Director Connor Kevin J. O sold 31,543 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $65.62, for a total value of $2,069,851.66. Following the sale, the director now owns 1,405,078 shares in the company, valued at $92,201,218.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website.

Procore Technologies stock fell 0.6%

NYSE:PCOR opened at $59.09 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55, and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $63.61 and a 200-day moving average of $69.93. The firm has a market cap of $8.65 billion, a PE ratio of -61.55 and a beta of 0.75. Procore Technologies, Inc. it has a 52 week low of $48.11 and a 52 week high of $83.35.

Procore Technologies (NYSE:PCOR – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.14. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The firm had revenue of $284.30 million for the quarter, compared to analyst estimates of $275.26 million. During the same period last year, the company earned ($0.28) earnings per share. The company’s revenue for the quarter was up 24.4% year over year. Analysts predict that Procore Technologies, Inc. will record -0.28 EPS for the current year.

Changes in Analyst Ratings

PCOR has been the subject of several recent analyst reports. DA Davidson cut Procore Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $60.00 in a research note on Friday, August 2nd . BMO Capital Markets cut their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Scotiabank cut their price target on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. Mizuho reaffirmed a “neutral” rating and issued a $70.00 target price (down from $75.00) on shares of Procore Technologies in a report on Tuesday, June 4th. Finally, Barclays downgraded shares of Procore Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $78.00 to $54.00 in a research note for Friday, August 2. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Moderate Buy” and a consensus price target of $69.31, according to MarketBeat.

Check out the latest stock report on PCOR

Institutional inputs and outputs

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Procore Technologies by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock valued at $764,111,000 after purchasing an additional 94,190 shares in the last quarter. Cadian Capital Management LP raised its stake in Procore Technologies by 22.9% in the 4th quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock valued at $257,384,000 after purchasing an additional 692,218 shares. shares in the last quarter. XN LP boosted its stake 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 acquiring an additional 1,411,812 shares during the last quarter. Dragoneer Investment Group LLC boosted its position in Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after acquiring an additional 1,609,607 shares during the period. Finally, Robeco Schweiz AG raised its stake in shares of Procore Technologies by 20.1% in the second quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock worth $87,198,000 after purchasing an additional 220,000 shares during the last quarter. 81.10% of shares are owned by institutional investors and hedge funds.

Procore Technologies Company Profile

(Get a free report)

Procore Technologies, Inc is engaged in providing a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables homeowners, general and specialty contractors, architects and engineers to collaborate on construction projects.

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