Insider Selling: Procore Technologies (NYSE:PCOR) CFO Sells $58,884.76 in Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 814 shares of Procore Technologies stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $72.34, for a total value of $58,884.76. Following the sale, the chief financial officer owned 187,847 shares of the company’s stock, valued at approximately $13,588,851.98. This represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, September 22nd, Howard Fu sold 796 shares of Procore Technologies stock. The stock was sold at an average price of $71.02, for a total value of $56,531.92.
• On Thursday, August 21st, Howard Fu sold 797 shares of Procore Technologies stock. The stock was sold at an average price of $63.85, for a total value of $50,888.45.

Procore Technologies Stock Up 2.0%

PCOR opened at $74.94 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of -78.06 and a beta of 0.90. The business has a 50-day moving average of $70.74 and a two-hundred day moving average of $68.41. Procore Technologies, Inc. has a 12 month low of $53.71 and a 12 month high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. The business had revenue of $172.21 million during the quarter. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. On average, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Procore Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its position in Procore Technologies by 465.2% during the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after acquiring an additional 321 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Procore Technologies by 277.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock valued at $35,000 after purchasing an additional 385 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Procore Technologies in the 1st quarter valued at approximately $49,000. Hilltop National Bank acquired a new position in shares of Procore Technologies in the 2nd quarter valued at approximately $62,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Procore Technologies in the 2nd quarter valued at approximately $68,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCOR has been the subject of several recent analyst reports. Barclays lifted their price target on Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Robert W. Baird boosted their target price on Procore Technologies from $83.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. BMO Capital Markets boosted their target price on Procore Technologies from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. JMP Securities reiterated a “market perform” rating and set a $95.00 target price on shares of Procore Technologies in a report on Friday, August 1st. Finally, William Blair reiterated an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. Fifteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.11.

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.