Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu Sells 1,447 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,447 shares of Procore Technologies stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $68.79, for a total value of $99,539.13. Following the sale, the chief financial officer now owns 144,713 shares of the company’s stock, valued at approximately $9,954,807.27. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 transaction of $203,566.10.
• On Wednesday, February 19th, Howard Fu sold 8,000 shares of Procore Technologies stock. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00.

Procore Technologies Stock Performance

PCOR traded up $0.90 on Friday, hitting $70.37. 1,122,248 shares of the stock traded hands, compared to its average volume of 1,673,645. The business has a fifty day moving average price of $76.38 and a two-hundred day moving average price of $71.43. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $10.55 billion, a PE ratio of -97.73 and a beta of 0.85. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The firm had revenue of $302.05 million for 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, research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after acquiring an additional 2,670,872 shares during the period. Capital World Investors grew its stake in shares of Procore Technologies by 453.6% in the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock valued at $233,704,000 after purchasing an additional 2,555,612 shares during the period. Wellington Management Group LLP acquired a new position in shares of Procore Technologies in the 4th quarter worth approximately $131,840,000. Wasatch Advisors LP lifted its position 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 worth $97,599,000 after buying an additional 1,575,534 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Procore Technologies by 99.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after buying an additional 1,425,967 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PCOR. Canaccord Genuity Group raised their target price on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a report on Friday, February 14th. DA Davidson raised their price objective on Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Mizuho upped their target price on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. JMP Securities boosted their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 18th. Finally, KeyCorp lifted their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and an average price target of $90.24.

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.