Howard Fu Sells 797 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 797 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $68.99, for a total value of $54,985.03. Following the sale, the chief financial officer now owns 199,067 shares in the company, valued at $13,733,632.33. The trade was a 0.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, April 23rd, Howard Fu sold 1,480 shares of Procore Technologies stock. The stock was sold at an average price of $60.02, for a total value of $88,829.60.
• On Monday, April 14th, Howard Fu sold 1,216 shares of Procore Technologies stock. The stock was sold at an average price of $61.34, for a total value of $74,589.44.
• On Friday, March 21st, Howard Fu sold 1,447 shares of Procore Technologies stock. The shares were sold at an average price of $68.79, for a total value of $99,539.13.
• On Friday, March 14th, Howard Fu sold 1,190 shares of Procore Technologies stock. The shares were sold at an average price of $67.00, for a total value of $79,730.00.
• On Monday, March 3rd, Howard Fu sold 2,642 shares of Procore Technologies stock. The shares were sold at an average price of $77.05, for a total value of $203,566.10.

Procore Technologies Trading Down 0.5%

NYSE PCOR opened at $67.30 on Friday. The firm has a market cap of $10.04 billion, a P/E ratio of -93.47 and a beta of 0.90. 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 stock’s 50-day moving average is $64.91 and its 200-day moving average is $72.70. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Procore Technologies’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds have recently modified their holdings of PCOR. Parkside Financial Bank & Trust raised its position in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after purchasing an additional 385 shares during the period. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares during the period. Huntington National Bank raised its position in Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after buying an additional 404 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in Procore Technologies in the 1st quarter valued at approximately $49,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Mizuho decreased their price target on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Scotiabank decreased their price target on Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. JMP Securities raised their price target on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. Finally, DA Davidson upgraded Procore Technologies to a “hold” rating in a report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.24.

About Procore Technologies

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.