Procore Technologies, Inc. (NYSE:PCOR) Insider Steven Scott Davis Sells 7,914 Shares

Procore Technologies, Inc. (NYSE:PCOR) insider Steven Scott Davis sold 7,914 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $564,743.04. Following the completion of the transaction, the insider now directly owns 184,223 shares in the company, valued at approximately $13,146,153.28. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Steven Scott Davis also recently made the following trade(s):

• On Thursday, October 31st, Steven Scott Davis sold 9,671 shares of Procore Technologies stock. The stock was sold at an average price of $65.00, for a total transaction of $628,615.00.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $76.67 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The business has a 50-day simple moving average of $64.19 and a two-hundred day simple moving average of $63.98. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $83.35.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC boosted its holdings in shares of Procore Technologies by 16.9% in the second quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock valued at $580,000 after purchasing an additional 1,266 shares during the period. M&G Plc grew its holdings in shares of Procore Technologies by 12.4% during the second quarter. M&G Plc now owns 120,626 shares of the company’s stock valued at $7,961,000 after buying an additional 13,334 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Procore Technologies by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock valued at $764,111,000 after buying an additional 94,190 shares during the last quarter. Burney Co. purchased a new stake in Procore Technologies in the first quarter valued at $1,371,000. Finally, SG Americas Securities LLC boosted its holdings in Procore Technologies by 118.0% in the second quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock valued at $1,158,000 after purchasing an additional 9,454 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PCOR shares. Canaccord Genuity Group increased their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of Procore Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus increased their target price on shares of Procore Technologies from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Friday. 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 report on Friday. Finally, JMP Securities dropped their price objective on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

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.