Procore Technologies, Inc. (NYSE:PCOR) CFO Sells $74,589.44 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,216 shares of Procore Technologies stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $61.34, for a total value of $74,589.44. Following the transaction, the chief financial officer now owns 208,184 shares in the company, valued at $12,770,006.56. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 stock was sold at an average price of $77.05, for a total value 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 value of $696,000.00.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $58.37 on Friday. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of -81.06 and a beta of 0.90. 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, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The company has a 50-day simple moving average of $69.99 and a 200 day simple moving average of $72.12.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. On average, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Conestoga Capital Advisors LLC lifted its stake in Procore Technologies by 7.5% during the first quarter. Conestoga Capital Advisors LLC now owns 222,962 shares of the company’s stock worth $14,720,000 after purchasing an additional 15,510 shares during the last quarter. Adero Partners LLC increased its holdings in Procore Technologies by 25.6% in the first quarter. Adero Partners LLC now owns 280,522 shares of the company’s stock valued at $18,520,000 after purchasing an additional 57,097 shares during the period. Hanson & Doremus Investment Management raised its position in Procore Technologies by 5.9% during the 1st quarter. Hanson & Doremus Investment Management now owns 30,532 shares of the company’s stock worth $2,016,000 after purchasing an additional 1,711 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Procore Technologies by 8.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,702 shares of the company’s stock valued at $508,000 after buying an additional 613 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Procore Technologies by 5.8% in the first quarter. Fifth Third Bancorp now owns 5,977 shares of the company’s stock valued at $395,000 after buying an additional 329 shares during the period. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Macquarie cut their target price on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Piper Sandler increased their target price 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. UBS Group raised their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, February 14th. DA Davidson cut their price target on shares of Procore Technologies from $80.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, JMP Securities raised their price objective on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.88.

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.