Insider Selling: Procore Technologies (NYSE:PCOR) CFO Sells $59,238.32 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 796 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $74.42, for a total transaction of $59,238.32. Following the completion of the transaction, the chief financial officer directly owned 179,051 shares in the company, valued at $13,324,975.42. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, November 21st, Howard Fu sold 797 shares of Procore Technologies stock. The stock was sold at an average price of $69.35, for a total value of $55,271.95.
• On Tuesday, October 21st, Howard Fu sold 814 shares of Procore Technologies stock. The shares were sold at an average price of $72.34, for a total value of $58,884.76.

Procore Technologies Stock Performance

NYSE PCOR opened at $74.62 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33. The stock’s 50 day simple moving average is $74.44 and its 200-day simple moving average is $71.31. The company has a market cap of $11.60 billion, a PE ratio of -88.83 and a beta of 0.90. Procore Technologies, Inc. has a 1-year low of $53.71 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The firm had revenue of $172.21 million during the quarter. As a group, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Procore Technologies

A number of hedge funds have recently modified their holdings of PCOR. Global Retirement Partners LLC raised its holdings in Procore Technologies by 465.2% in the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after buying an additional 321 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Procore Technologies in the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp increased its stake in shares of Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after buying an additional 199 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after buying an additional 385 shares during the period. Finally, First Horizon Corp acquired a new stake in Procore Technologies in the third quarter valued at approximately $49,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PCOR shares. Robert W. Baird increased their price objective on shares of Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. KeyCorp increased their price target on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. DA Davidson raised Procore Technologies to a “hold” rating in a research note on Friday, November 7th. BTIG Research reaffirmed a “buy” rating and issued a $88.00 target price on shares of Procore Technologies in a research note on Wednesday, December 17th. Finally, Berenberg Bank initiated coverage on Procore Technologies in a report on Friday, October 3rd. They set a “buy” rating and a $84.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $84.67.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.