Howard Fu Sells 1,457 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 1,457 shares of Procore Technologies stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.19, for a total value of $118,293.83. Following the sale, the chief financial officer now owns 137,237 shares in the company, valued at approximately $11,142,272.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, February 22nd, Howard Fu sold 4,458 shares of Procore Technologies stock. The stock was sold at an average price of $73.90, for a total value of $329,446.20.
• On Monday, January 22nd, Howard Fu sold 1,142 shares of Procore Technologies stock. The stock was sold at an average price of $69.67, for a total value of $79,563.14.
• On Monday, January 8th, Howard Fu sold 1,140 shares of Procore Technologies stock. The stock was sold at an average price of $65.90, for a total value of $75,126.00.

Procore Technologies Trading Down 0.9 %

Shares of NYSE:PCOR opened at $81.63 on Thursday. The business’s 50 day simple moving average is $75.59 and its 200-day simple moving average is $67.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. Procore Technologies, Inc. has a 12 month low of $48.11 and a 12 month high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13. The business had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. Equities analysts anticipate that Procore Technologies, Inc. will post -0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PCOR shares. The Goldman Sachs Group raised their price target on Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. KeyCorp raised their price target on Procore Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. BMO Capital Markets raised their price target on Procore Technologies from $76.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. JMP Securities lifted their price objective on Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Procore Technologies from $76.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.86.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Procore Technologies by 8.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,908,997 shares of the company’s stock worth $620,601,000 after purchasing an additional 734,057 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Procore Technologies by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 9,204,957 shares of the company’s stock worth $637,167,000 after purchasing an additional 666,287 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Procore Technologies by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,744,726 shares of the company’s stock worth $309,926,000 after purchasing an additional 114,649 shares during the last quarter. Cadian Capital Management LP raised its holdings in Procore Technologies by 22.9% in the 4th quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock valued at $257,384,000 after acquiring an additional 692,218 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Procore Technologies by 17.3% in the 2nd quarter. BlackRock Inc. now owns 3,576,438 shares of the company’s stock valued at $232,719,000 after acquiring an additional 527,268 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.