Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CFO Sells $75,205.00 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,157 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $65.00, for a total transaction of $75,205.00. Following the transaction, the chief financial officer now owns 182,561 shares in the company, valued at approximately $11,866,465. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, May 22nd, Howard Fu sold 7,748 shares of Procore Technologies stock. The stock was sold at an average price of $70.17, for a total transaction of $543,677.16.
• On Monday, April 22nd, Howard Fu sold 1,441 shares of Procore Technologies stock. The stock was sold at an average price of $71.02, for a total value of $102,339.82.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $66.31 on Monday. The firm’s 50 day moving average is $67.42 and its 200 day moving average is $71.47. The stock has a market capitalization of $9.70 billion, a P/E ratio of -69.07 and a beta of 0.76. Procore Technologies, Inc. has a 12 month low of $48.11 and a 12 month high of $83.35. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.15. The firm had revenue of $269.43 million for the quarter, compared to the consensus estimate of $263.13 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.35 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PCOR shares. JPMorgan Chase & Co. upped their price target on Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Barclays dropped their price target on shares of Procore Technologies from $83.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Piper Sandler reduced their price objective on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. DA Davidson reissued a “buy” rating and set a $95.00 target price on shares of Procore Technologies in a research report on Thursday, March 14th. Finally, Canaccord Genuity Group dropped their price target on Procore Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.94.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in shares of Procore Technologies by 6,823.1% during the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after buying an additional 887 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Procore Technologies in the fourth quarter worth approximately $62,000. Advisors Asset Management Inc. raised its position in shares of Procore Technologies by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after buying an additional 260 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after acquiring an additional 297 shares during the last quarter. Finally, Covestor Ltd grew its position in Procore Technologies by 29.3% in the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock worth $109,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

About Procore Technologies

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.