Lawrence Joseph Stack Sells 12,000 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CRO Lawrence Joseph Stack sold 12,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the sale, the executive now owns 161,368 shares in the company, valued at $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $82.28 on Friday. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. 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 firm has a fifty day simple moving average of $78.09 and a two-hundred day simple moving average of $69.49. The stock has a market capitalization of $12.23 billion, a P/E ratio of -114.27 and a beta of 0.84.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm had revenue of $302.05 million for the quarter, compared to analysts’ expectations of $297.72 million. On average, analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PCOR shares. Robert W. Baird lifted their price target on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. DA Davidson lifted their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Scotiabank lifted their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. Mizuho lifted their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, Stifel Nicolaus lifted their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and a consensus target price of $89.94.

Hedge Funds Weigh In On Procore Technologies

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares during the period. Huntington National Bank boosted its stake in shares of Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after purchasing an additional 404 shares during the period. Finally, Hilltop National Bank purchased a new stake in Procore Technologies in the 4th quarter valued at about $53,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.