Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu Sells 8,000 Shares

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 8,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the transaction, the chief financial officer now owns 156,188 shares of the company’s stock, valued at $13,588,356. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Procore Technologies Stock Performance

Procore Technologies stock opened at $82.28 on Friday. The business’s 50-day simple moving average is $78.09 and its 200 day simple moving average is $69.37. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. 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 posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The firm had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. On average, equities analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Cache Advisors LLC bought a new position in Procore Technologies in the fourth quarter valued at about $2,909,000. JT Stratford LLC bought a new position in Procore Technologies during the fourth quarter worth about $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Procore Technologies by 15.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company’s stock worth $22,347,000 after buying an additional 39,935 shares during the last quarter. Voloridge Investment Management LLC bought a new position in Procore Technologies during the fourth quarter worth about $14,855,000. Finally, Woodline Partners LP boosted its holdings in Procore Technologies by 45.8% during the fourth quarter. Woodline Partners LP now owns 691,980 shares of the company’s stock worth $51,850,000 after buying an additional 217,351 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus increased their price objective on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group increased their price objective on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $100.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, BMO Capital Markets increased their price objective on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.