Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CFO Sells 797 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 797 shares of the company’s 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 transaction, the chief financial officer now owns 199,067 shares of the company’s stock, valued at approximately $13,733,632.33. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, April 23rd, Howard Fu sold 1,480 shares of Procore Technologies stock. The shares were 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 transaction of $74,589.44.
• On Friday, March 21st, Howard Fu sold 1,447 shares of Procore Technologies stock. The stock was sold at an average price of $68.79, for a total transaction 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 transaction 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 transaction of $203,566.10.

Procore Technologies Price Performance

PCOR opened at $67.30 on Friday. The firm has a market capitalization of $10.04 billion, a P/E ratio of -93.47 and a beta of 0.90. The stock has a fifty day moving average of $64.91 and a 200-day moving average of $72.71. 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, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. During the same period in the prior year, the business earned $0.30 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Trading of Procore Technologies

A number of hedge funds have recently made changes to their positions in PCOR. Chicago Partners Investment Group LLC grew its position in Procore Technologies by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock valued at $1,199,000 after purchasing an additional 129 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Procore Technologies by 61.3% in 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 in the last quarter. V Square Quantitative Management LLC boosted its stake 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 valued at $44,000 after buying an additional 162 shares during the period. Covestor Ltd boosted its stake in shares of Procore Technologies by 15.1% during the 4th quarter. Covestor Ltd now owns 1,571 shares of the company’s stock valued at $118,000 after buying an additional 206 shares during the period. Finally, Two Sigma Investments LP grew its holdings in shares of Procore Technologies by 5.3% during the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company’s stock valued at $313,000 after acquiring an additional 210 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCOR has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Procore Technologies from $97.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group reduced their price target on Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, March 31st. BMO Capital Markets lowered their price target on Procore Technologies from $95.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Barclays upped their price objective on shares of Procore Technologies from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Finally, Piper Sandler decreased their target price on shares of Procore Technologies from $110.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.24.

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.