Howard Fu Sells 7,809 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 7,809 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 164,188 shares of the company’s stock, valued at approximately $11,716,455.68. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 Performance

Shares of Procore Technologies stock opened at $76.67 on Friday. The company’s fifty day simple moving average is $64.19 and its 200-day simple moving average is $63.98. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $83.35. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, equities analysts anticipate that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PCOR. Dragoneer Investment Group LLC lifted its stake in shares of Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after buying an additional 1,609,607 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after buying an additional 1,575,534 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Procore Technologies during the 3rd quarter valued at $88,572,000. XN LP lifted its stake in shares of Procore Technologies by 101.1% during the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after buying an additional 1,411,812 shares in the last quarter. Finally, PointState Capital LP purchased a new position in shares of Procore Technologies during the 3rd quarter valued at $81,306,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

PCOR has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday. Stifel Nicolaus raised their price target on shares of Procore Technologies from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. DA Davidson raised their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday. KeyCorp raised their price target on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Procore Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

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.