Procore Technologies, Inc. (NASDAQ:PCOR) Insider Benjamin C. Singer Sells 6,453 Shares
Procore Technologies, Inc. (NASDAQ: PCOR – Get a rating) insider Benjamin C. Singer sold 6,453 shares of Procore Technologies in a trade that took place on Monday, May 23. The stock was sold at an average price of $42.79, for a total value of $276,123.87. Following the completion of the sale, the insider now owns 166,699 shares of the company, valued at $7,133,050.21. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink.
Shares of PCOR traded at $1.80 during Wednesday trading hours, hitting $42.37. The stock had a trading volume of 1,405,737 shares, compared to an average volume of 1,004,952. The company has a leverage ratio of 0.04, a current ratio of 1.78 and a quick ratio of 1. ,78. Procore Technologies, Inc. has a 12 month minimum of $40.00 and a 12 month maximum of $108.75. The company has a market capitalization of $5.74 billion and a PE ratio of -12.00. The stock has a fifty-day moving average price of $53.13 and a 200-day moving average price of $65.69.
Procore Technologies (NASDAQ: PCOR – Get a rating) last released its quarterly earnings data on Wednesday, May 4. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.05. Procore Technologies posted a negative return on equity of 23.19% and a negative net margin of 54.32%. The company posted revenue of $159.52 million in the quarter, versus analyst estimates of $150.25 million. In the same quarter a year earlier, the company posted ($0.04) earnings per share. Procore Technologies revenue increased 40.0% compared to the same quarter last year. As a group, analysts expect Procore Technologies, Inc. to post -1.81 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently changed their stock holdings. Centiva Capital LP increased its holdings of Procore Technologies shares by 4.1% in the third quarter. Centiva Capital LP now owns 4,299 shares of the company worth $384,000 after acquiring an additional 170 shares during the period. Brighton Jones LLC increased its stake in Procore Technologies by 2.9% during the fourth quarter. Brighton Jones LLC now owns 7,551 shares of the company valued at $604,000 after purchasing an additional 211 shares during the period. Blueshift Asset Management LLC increased its stake in Procore Technologies by 7.1% during the third quarter. Blueshift Asset Management LLC now owns 3,193 shares of the company valued at $285,000 after purchasing an additional 213 shares during the period. Ieq Capital LLC increased its stake in Procore Technologies by 2.0% during the first quarter. Ieq Capital LLC now owns 15,376 shares of the company valued at $891,000 after purchasing an additional 300 shares during the period. Finally, CIBC Asset Management Inc. increased its stake in Procore Technologies by 6.3% during the fourth quarter. CIBC Asset Management Inc. now owns 5,444 shares of the company valued at $435,000 after purchasing an additional 322 shares during the period. 91.35% of the shares are held by institutional investors.
A number of equity research analysts have weighed in on the company recently. Oppenheimer reduced his price target on Procore Technologies from $85.00 to $70.00 in a Thursday, May 5 research report. JPMorgan Chase & Co. lowered its price target on Procore Technologies from $123.00 to $113.00 and set an “overweight” rating on the stock in a Wednesday, Feb. 23 research report. Piper Sandler lowered its price target on Procore Technologies from $115.00 to $100.00 and set an “overweight” rating on the stock in a Wednesday, Feb. 23 research report. Mizuho lowered its price target on Procore Technologies from $75.00 to $70.00 in a Thursday, May 5 research note. Finally, Stifel Nicolaus lowered his price target on Procore Technologies to $85.00 and set a “buy” rating for the company in a research note on Friday, January 28. Two research analysts rated the stock with a hold rating and twelve assigned the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $87.46.
Procore Technologies Company Profile (Get a rating)
Procore Technologies, Inc provides a cloud-based construction management platform and related software products in the United States and globally. The company’s platform allows owners, general and specialty contractors, architects and engineers to collaborate on construction projects. It offers preconstruction which facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding and partner selection phase of a construction project; and project management, which enables real-time collaboration, information storage, design, BIM model conflict detection and regulatory compliance for teams on site and in the back office.
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