Insider Selling: Procore Technologies (NYSE:PCOR) CFO Sells $59,413.86 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 814 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $72.99, for a total value of $59,413.86. Following the completion of the sale, the chief financial officer owned 178,237 shares of the company’s stock, valued at $13,009,518.63. The trade was a 0.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, December 22nd, Howard Fu sold 796 shares of Procore Technologies stock. The stock was sold at an average price of $74.42, for a total transaction of $59,238.32.
• On Friday, November 21st, Howard Fu sold 797 shares of Procore Technologies stock. The stock was sold at an average price of $69.35, for a total transaction of $55,271.95.
• On Tuesday, October 21st, Howard Fu sold 814 shares of Procore Technologies stock. The shares were sold at an average price of $72.34, for a total transaction of $58,884.76.

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $73.82 on Friday. The company’s fifty day simple moving average is $74.51 and its two-hundred day simple moving average is $71.82. Procore Technologies, Inc. has a 12-month low of $53.71 and a 12-month high of $88.92. The firm has a market cap of $11.48 billion, a PE ratio of -87.88 and a beta of 0.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The firm had revenue of $172.21 million for the quarter. As a group, equities analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC lifted its holdings in shares of Procore Technologies by 465.2% during the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after purchasing an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Procore Technologies during the 3rd quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. raised its stake in Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock valued at $35,000 after buying an additional 385 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 199 shares in the last quarter. Finally, First Horizon Corp bought a new stake in Procore Technologies in the third quarter worth $49,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PCOR. BMO Capital Markets lifted their price target on shares of Procore Technologies from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Robert W. Baird lifted their target price on shares of Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Canaccord Genuity Group boosted their price target on shares of Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Barclays upgraded shares of Procore Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $82.00 to $90.00 in a report on Monday. Finally, William Blair reaffirmed an “outperform” rating on shares of Procore Technologies in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.11.

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. 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 Execution, 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.