Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CFO Sells 1,447 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,447 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $68.79, for a total transaction of $99,539.13. Following the completion of the transaction, the chief financial officer now owns 144,713 shares of the company’s stock, valued at approximately $9,954,807.27. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 transaction of $79,730.00.
• On Monday, March 3rd, Howard Fu sold 2,642 shares of Procore Technologies stock. The stock was sold at an average price of $77.05, for a total transaction of $203,566.10.
• 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 transaction of $696,000.00.

Procore Technologies Trading Up 1.3 %

Shares of PCOR stock opened at $70.37 on Friday. The company’s 50-day moving average price is $76.38 and its 200-day moving average price is $71.53. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of -97.73 and a beta of 0.85. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results 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). The firm had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, equities analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Cache Advisors LLC acquired a new position in Procore Technologies in the fourth quarter valued at about $2,909,000. JT Stratford LLC acquired a new position in Procore Technologies in the fourth quarter valued at about $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Procore Technologies by 15.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company’s stock valued at $22,347,000 after buying an additional 39,935 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Procore Technologies in the fourth quarter valued at about $14,855,000. Finally, Woodline Partners LP lifted its position in Procore Technologies by 45.8% in the fourth quarter. Woodline Partners LP now owns 691,980 shares of the company’s stock valued at $51,850,000 after buying an additional 217,351 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PCOR. Barclays boosted their price target on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Piper Sandler boosted their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Canaccord Genuity Group boosted their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus upped their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, UBS Group upped their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $90.24.

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.