Procore Technologies, Inc. (NYSE:PCOR) CEO Craig F. Jr. Courtemanche Sells 29,181 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR – Get Rating) CEO Craig F. Jr. Courtemanche sold 29,181 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $57.95, for a total transaction of $1,691,038.95. Following the transaction, the chief executive officer now directly owns 894,392 shares in the company, valued at $51,830,016.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Procore Technologies Trading Down 2.1 %

Shares of PCOR stock opened at $57.01 on Friday. The company has a market cap of $8.01 billion, a PE ratio of -28.22 and a beta of 0.55. Procore Technologies, Inc. has a 12 month low of $41.07 and a 12 month high of $68.56. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $56.40 and its two-hundred day moving average is $55.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PCOR shares. Barclays lifted their target price on shares of Procore Technologies from $61.00 to $72.00 in a research note on Friday, February 17th. The Goldman Sachs Group upgraded Procore Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $63.00 to $75.00 in a research note on Thursday, May 4th. KeyCorp cut their price target on Procore Technologies from $86.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. JMP Securities reiterated a “market outperform” rating and set a $75.00 price target on shares of Procore Technologies in a report on Monday, April 17th. Finally, DA Davidson began coverage on Procore Technologies in a report on Tuesday, March 21st. They issued a “buy” rating and a $72.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and an average price target of $72.00.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors have recently made changes to their positions in the business. Jump Financial LLC increased its position in Procore Technologies by 72.0% in the 3rd quarter. Jump Financial LLC now owns 78,076 shares of the company’s stock worth $3,863,000 after buying an additional 32,676 shares during the period. Bessemer Group Inc. acquired a new position in Procore Technologies during the 3rd quarter valued at $294,000. Chicago Partners Investment Group LLC bought a new stake in Procore Technologies in the 4th quarter valued at $1,103,000. Russell Investments Group Ltd. acquired a new stake in Procore Technologies in the 3rd quarter worth $653,000. Finally, Verition Fund Management LLC bought a new position in shares of Procore Technologies during the 3rd quarter worth about $282,000. 82.50% of the stock is currently owned by institutional investors.

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.