Howard Fu Sells 2,642 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 2,642 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $77.05, for a total value of $203,566.10. Following the sale, the chief financial officer now directly owns 147,350 shares of the company’s stock, valued at $11,353,317.50. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, February 19th, Howard Fu sold 8,000 shares of Procore Technologies stock. The stock was sold at an average price of $87.00, for a total value of $696,000.00.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $72.22 on Friday. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The firm has a market capitalization of $10.83 billion, a PE ratio of -100.30 and a beta of 0.85. The business’s 50 day moving average is $77.94 and its 200-day moving average is $70.73. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PCOR. TD Cowen increased their price objective on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $100.00 in a report on Monday, January 6th. Piper Sandler increased their price objective on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Robert W. Baird increased their price objective on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Mizuho increased their price objective on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $89.94.

Hedge Funds Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Chicago Partners Investment Group LLC lifted its position in shares of Procore Technologies by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after buying an additional 129 shares during the period. CIBC Asset Management Inc lifted its position in shares of Procore Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after buying an additional 143 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after buying an additional 162 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. Institutional investors own 81.10% of the company’s stock.

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.