Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CFO Sells 2,642 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 2,642 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $77.05, for a total value of $203,566.10. Following the completion of the transaction, the chief financial officer now owns 147,350 shares of the company’s stock, valued at $11,353,317.50. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Trading Up 2.9 %

PCOR opened at $76.49 on Thursday. The company’s 50 day simple moving average is $78.06 and its two-hundred day simple moving average is $70.72. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of -106.23 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS 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 during the quarter, compared to analysts’ expectations of $297.72 million. Analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc grew its position in Procore Technologies by 92.1% during the fourth 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. Parkside Financial Bank & Trust lifted its stake in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Procore Technologies by 37.8% during the fourth 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. Huntington National Bank increased its position in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after purchasing an additional 404 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in Procore Technologies during the fourth quarter worth approximately $53,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Mizuho raised their target price on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Piper Sandler lifted their price target on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. JMP Securities boosted their target price on Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 18th. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $100.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their target price on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.94.

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.