Procore Technologies, Inc. (NYSE:PCOR) CFO Sells $696,000.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the transaction, the chief financial officer now owns 156,188 shares of the company’s stock, valued at $13,588,356. This represents a 4.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Procore Technologies Stock Performance

NYSE PCOR traded down $0.78 during trading hours on Friday, hitting $82.28. 1,628,367 shares of the stock were exchanged, compared to its average volume of 1,377,505. The company has a market cap of $12.23 billion, a price-to-earnings ratio of -114.27 and a beta of 0.84. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The stock has a 50-day moving average of $78.09 and a 200 day moving average of $69.37. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The firm had revenue of $302.05 million for the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, equities research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PCOR. Creative Planning purchased a new position in Procore Technologies during the third quarter worth about $234,000. Raymond James & Associates increased its holdings in Procore Technologies by 3.0% in the third quarter. Raymond James & Associates now owns 47,982 shares of the company’s stock valued at $2,961,000 after buying an additional 1,386 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares in the last quarter. Tanager Wealth Management LLP increased its holdings in Procore Technologies by 1.3% in the third quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock valued at $787,000 after buying an additional 168 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Procore Technologies in the third quarter valued at about $88,572,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCOR has been the subject of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Barclays upped their price objective on shares of Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Piper Sandler upped their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Robert W. Baird upped their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.94.

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.