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

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

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

• On Friday, March 14th, Howard Fu sold 1,190 shares of Procore Technologies stock. The stock was 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 shares were 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 shares were sold at an average price of $87.00, for a total value of $696,000.00.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $70.37 on Monday. The firm has a market capitalization of $10.55 billion, a PE ratio of -97.73 and a beta of 0.85. 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, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The business’s 50 day moving average is $76.38 and its 200-day moving average is $71.64.

Procore Technologies (NYSE:PCOR) last posted its quarterly 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). The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Institutional Trading of Procore Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cache Advisors LLC bought a new position in Procore Technologies during the fourth quarter worth about $2,909,000. JT Stratford LLC acquired a new position in shares of Procore Technologies in the 4th quarter worth approximately $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Procore Technologies by 15.5% during the 4th 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 period. Voloridge Investment Management LLC acquired a new stake in Procore Technologies in the 4th quarter valued at $14,855,000. Finally, Woodline Partners LP grew its position in Procore Technologies by 45.8% in the fourth quarter. Woodline Partners LP now owns 691,980 shares of the company’s stock valued at $51,850,000 after acquiring an additional 217,351 shares during the period. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCOR. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $100.00 in a research report on Monday, January 6th. Macquarie lowered their target price on shares of 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 lifted 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. JMP Securities upped their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. Finally, Stifel Nicolaus lifted 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. 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. Based on data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and an average price target of $90.24.

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.