Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CFO Sells $557,250.24 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 7,809 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $557,250.24. Following the completion of the sale, the chief financial officer now owns 164,188 shares in the company, valued at approximately $11,716,455.68. The trade was a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Thursday, November 7th, Howard Fu sold 1,500 shares of Procore Technologies stock. The stock was sold at an average price of $71.75, for a total transaction of $107,625.00.

Procore Technologies Stock Up 1.9 %

Shares of NYSE PCOR opened at $76.68 on Monday. The stock has a market cap of $11.40 billion, a PE ratio of -153.36 and a beta of 0.71. The business has a fifty day moving average of $64.19 and a two-hundred day moving average of $63.92. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, equities research analysts expect that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC raised its holdings in shares of Procore Technologies by 16.9% in the second quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock valued at $580,000 after buying an additional 1,266 shares during the last quarter. M&G Plc raised its holdings in shares of Procore Technologies by 12.4% in the second quarter. M&G Plc now owns 120,626 shares of the company’s stock valued at $7,961,000 after buying an additional 13,334 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Procore Technologies by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock valued at $764,111,000 after buying an additional 94,190 shares during the last quarter. Burney Co. bought a new position in shares of Procore Technologies in the first quarter valued at about $1,371,000. Finally, SG Americas Securities LLC raised its holdings in shares of Procore Technologies by 118.0% in the second quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock valued at $1,158,000 after buying an additional 9,454 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Procore Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday. Macquarie restated a “neutral” rating and issued a $70.00 price objective on shares of Procore Technologies in a research note on Tuesday, July 30th. Barclays raised their price objective on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday. Jefferies Financial Group lifted their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Finally, Canaccord Genuity Group lifted their price target on shares of Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

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.