Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CFO Sells 1,441 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,441 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $71.02, for a total value of $102,339.82. Following the sale, the chief financial officer now directly owns 192,178 shares in the company, valued at $13,648,481.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Howard Fu also recently made the following trade(s):

• On Friday, March 22nd, Howard Fu sold 1,457 shares of Procore Technologies stock. The shares were sold at an average price of $81.19, for a total transaction of $118,293.83.
• On Thursday, February 22nd, Howard Fu sold 4,458 shares of Procore Technologies stock. The stock was sold at an average price of $73.90, for a total transaction of $329,446.20.

Procore Technologies Trading Down 0.9 %

Shares of PCOR stock traded down $0.62 during trading on Wednesday, hitting $71.11. 933,623 shares of the stock traded hands, compared to its average volume of 1,201,327. The firm has a market capitalization of $10.31 billion, a P/E ratio of -53.47 and a beta of 0.71. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s fifty day moving average price is $77.07 and its 200-day moving average price is $68.86.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. The business had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. As a group, research analysts forecast that Procore Technologies, Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Procore Technologies by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 9,204,957 shares of the company’s stock valued at $637,167,000 after purchasing an additional 666,287 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Procore Technologies by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,744,726 shares of the company’s stock worth $309,926,000 after acquiring an additional 114,649 shares in the last quarter. Cadian Capital Management LP boosted its holdings in Procore Technologies by 22.9% during the 4th quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock valued at $257,384,000 after acquiring an additional 692,218 shares during the period. Invesco Ltd. grew its position in Procore Technologies by 32.8% in the 3rd quarter. Invesco Ltd. now owns 2,398,257 shares of the company’s stock valued at $156,654,000 after acquiring an additional 592,318 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Procore Technologies by 4,290.2% during the 4th quarter. Cerity Partners LLC now owns 1,334,194 shares of the company’s stock worth $92,353,000 after buying an additional 1,303,804 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on PCOR shares. Piper Sandler raised their price objective on Procore Technologies from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 16th. JMP Securities upped their price target on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research report on Friday, February 16th. The Goldman Sachs Group increased their target price on Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus lifted their price target on Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, DA Davidson reissued a “buy” rating and issued a $95.00 price objective on shares of Procore Technologies in a research note on Thursday, March 14th. Three 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.86.

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.