Steven Scott Davis Sells 738 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR – Get Rating) insider Steven Scott Davis sold 738 shares of Procore Technologies stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $57.95, for a total transaction of $42,767.10. Following the transaction, the insider now owns 258,468 shares of the company’s stock, valued at $14,978,220.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Procore Technologies Stock Up 0.3 %

PCOR stock opened at $57.17 on Friday. The stock has a fifty day moving average of $56.40 and a 200-day moving average of $55.18. Procore Technologies, Inc. has a fifty-two week low of $41.07 and a fifty-two week high of $68.56. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of -28.22 and a beta of 0.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.51 and a current ratio of 1.51.

Hedge Funds Weigh In On Procore Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Procore Technologies by 311.8% in the first quarter. Bank of New York Mellon Corp now owns 487,908 shares of the company’s stock valued at $28,280,000 after purchasing an additional 369,427 shares in the last quarter. HighTower Advisors LLC boosted its stake in Procore Technologies by 33.1% in the 1st quarter. HighTower Advisors LLC now owns 15,927 shares of the company’s stock worth $924,000 after purchasing an additional 3,959 shares during the period. Citigroup Inc. grew its holdings in Procore Technologies by 41.9% during the 1st quarter. Citigroup Inc. now owns 8,019 shares of the company’s stock valued at $465,000 after buying an additional 2,367 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Procore Technologies during the first quarter valued at about $31,000. Finally, Bank of Montreal Can purchased a new stake in shares of Procore Technologies in the first quarter worth about $2,460,000. Institutional investors own 82.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PCOR. Barclays boosted their price objective on Procore Technologies from $61.00 to $72.00 in a report on Friday, February 17th. Mizuho dropped their price objective on Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 17th. Stifel Nicolaus reduced their target price on shares of Procore Technologies from $79.00 to $67.00 in a research note on Thursday, May 4th. The Goldman Sachs Group raised shares of Procore Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $63.00 to $75.00 in a research report on Thursday, May 4th. Finally, Piper Sandler upped their price objective on shares of Procore Technologies from $60.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.00.

About Procore Technologies

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Procore Technologies, Inc provides 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. It offers Preconstruction that 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 clash detection, and regulation compliance for teams on the jobsite and in the back office.