Procore Technologies, Inc. (NYSE:PCOR) Major Shareholder Iconiq Strategic Partners Ii, Sells 12,340 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $71.04, for a total value of $876,633.60. Following the completion of the transaction, the insider now owns 2,284,989 shares in the company, valued at approximately $162,325,618.56. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Procore Technologies Price Performance

Shares of NYSE PCOR traded down $2.01 during trading hours on Friday, hitting $69.60. 79,634 shares of the stock were exchanged, compared to its average volume of 1,566,074. 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 company’s 50 day moving average is $62.23 and its 200 day moving average is $63.85. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, equities research analysts anticipate that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCOR. Orion Portfolio Solutions LLC boosted its stake in shares of Procore Technologies by 29.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 75,840 shares of the company’s stock valued at $6,232,000 after purchasing an additional 17,119 shares during the last quarter. M&G Plc bought a new position in Procore Technologies in the first quarter valued at approximately $8,798,000. Swiss National Bank lifted its stake in Procore Technologies by 9.3% in the first quarter. Swiss National Bank now owns 184,100 shares of the company’s stock valued at $15,127,000 after buying an additional 15,700 shares in the last quarter. Park Avenue Securities LLC raised 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 last quarter. Finally, 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 during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Procore Technologies from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Macquarie reiterated a “neutral” rating and set a $70.00 price target on shares of Procore Technologies in a research report on Tuesday, July 30th. Robert W. Baird assumed coverage on Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price target on the stock. JMP Securities decreased their price objective on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. Finally, DA Davidson reissued a “neutral” rating and issued a $60.00 price objective on shares of Procore Technologies in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and an average price target of $69.94.

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.