Insider Selling: Procore Technologies, Inc. (NYSE:PCOR) CFO Sells 7,809 Shares of Stock

Procore Technologies, Inc. (NYSE:PCOR) CFO Howard Fu sold 7,809 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $557,250.24. Following the sale, the chief financial officer now owns 164,188 shares of the company’s stock, valued at $11,716,455.68. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, November 7th, Howard Fu sold 1,500 shares of Procore Technologies stock. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00.

Procore Technologies Stock Up 1.9 %

PCOR stock opened at $76.68 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. The firm has a market capitalization of $11.40 billion, a PE ratio of -153.36 and a beta of 0.71. The company’s 50 day simple moving average is $64.19 and its 200-day simple moving average is $63.94.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Equities analysts expect that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its stake in shares of Procore Technologies by 16.9% during the 2nd quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock worth $580,000 after purchasing an additional 1,266 shares during the last quarter. M&G Plc lifted its stake in shares of Procore Technologies by 12.4% during the second quarter. M&G Plc now owns 120,626 shares of the company’s stock valued at $7,961,000 after buying an additional 13,334 shares during the period. Vanguard Group Inc. boosted its position in Procore Technologies by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock worth $764,111,000 after acquiring an additional 94,190 shares during the last quarter. Burney Co. purchased a new stake in Procore Technologies in the 1st quarter worth approximately $1,371,000. Finally, SG Americas Securities LLC raised its holdings in Procore Technologies by 118.0% in the 2nd quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock valued at $1,158,000 after acquiring an additional 9,454 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCOR. Robert W. Baird started coverage on shares of Procore Technologies in a research note on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price target on the stock. Barclays boosted their target price on Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday. JMP Securities reduced their price target on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. DA Davidson upped their price objective on Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday. Finally, TD Cowen raised their target price on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

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.