Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CFO Sells $99,539.13 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,447 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $68.79, for a total value of $99,539.13. Following the transaction, the chief financial officer now directly owns 144,713 shares in the company, valued at $9,954,807.27. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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 shares were 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 shares were sold at an average price of $87.00, for a total transaction of $696,000.00.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $70.37 on Monday. The company’s fifty day moving average is $76.38 and its two-hundred day moving average is $71.64. The company has a market cap of $10.55 billion, a P/E ratio of -97.73 and a beta of 0.85. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. 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 for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Equities analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Procore Technologies

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Procore Technologies by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock valued at $891,692,000 after purchasing an additional 838,925 shares in the last quarter. Capital World Investors boosted its stake in shares of Procore Technologies by 453.6% during the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock valued at $233,704,000 after buying an additional 2,555,612 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after acquiring an additional 1,425,967 shares in the last quarter. Meritage Group LP increased its stake in shares of Procore Technologies by 66.6% in the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after acquiring an additional 1,098,019 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock worth $200,810,000 after acquiring an additional 2,670,872 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PCOR. Robert W. Baird lifted their price target on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. UBS Group lifted their target price on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. KeyCorp raised their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Mizuho boosted their target price on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and an average price target of $90.24.

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.